What is Cryptocurrency and How it works - Knowledge Adda
What is cryptocurrency ?
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Cryptocurrency is a virtual currency. Which started in 2009. The first cryptocurrency was bitcoin. Cryptocurrency is not like a note or coin, meaning that we cannot keep it in hand like money. And also can not keep it in the pocket. But this cryptocurrency is saved in our digital wallet. Payment from bitcoin is done by computer only. Friends, you know that there is complete control of the government on the currency like Indian rupee, Euro, Doller.
No government has control over cryptocurrencies like bitcoin. There is no control of government authority such as a central bank or any country and agency on this virtual currency. Bitcoin does not follow the traditional banking system. Bitcoin keeps on transferring from a computer wallet to another wallet. Friends, Bitcoin is not the same cryptocurrency but there are more than 5000+ cryptocurrencies.
What is the most popular cryptocurrency?
There are lots of most popular cryptocurrencies like 1. Ethereum 2. Ripple 3. Litecoin 4. Tether and 5. Libra. Like bitcoins, they can be easily bought and sold. Friends are the most popular cryptocurrency bitcoin. All the big companies of the world are now accepting bitcoin payments as well.
How is Bitcoin used?
Friends, shopping, traveling, trending, food delivery are all done with the help of bitcoins. Bitcoin is also slowly becoming a platform in India. Friends, you can use cryptocurrency in India. Bitcoin has now become legal in India. That's why now the number of cryptocurrency users has started increasing in India too.
With the help of bitcoin, you can make a very fast and secure international payment. That's why bitcoin is such a popular platform. Big companies like Facebook, PayPal, Amazon, and Walmart are also associated with cryptocurrency.
Who uses cryptocurrency?
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Rich men of the world also use cryptocurrency. Big people like Elon musk, jack Dorsey, mike Tyson, and Kanye West also use cryptocurrency. The countries of the USA, CHINE, SPAIN, JAPAN, and Romania have the highest number of users of cryptocurrency. Now you too will be thinking of investing in bitcoin.
How to invest in bitcoin?
Friends, if you have read the entire article above, then you too must have got trust over bitcoin. If you also want to invest in bitcoin, then tell you that it is so easy to invest in bitcoin That you are buying something on amazon. You can buy and sell bitcoins very easily. Friends, you can invest in bitcoins in one click using the Coin Switch application. This app has millions of users all over the world. But the question may come to your mind that if bitcoin will be expensive, then how can you buy it?
The price of 1 bitcoin is 40 lakhs in India. The price of bitcoin is steadily increasing. But you can invest 100 rupees / - by using a coin switch.
Click here to download the Coin Switch Kuber app - Click Here
So friends, along with the information of bitcoin, you should know that you can get a lot of profit in it, but the risk is also high in it. Therefore, before purchasing any cryptocurrency, do some research on it. So that you can know what the value of that cryptocurrency was last month. Friends, if you invest in cryptocurrency wisely, then you can earn a lot of profit.
So friends, with the help of this article, you will know what is a cryptocurrency and how it works? I hope this article has been helpful for you. So please do share it with your friends too.
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