In recent days Cryptocurrency is the most trending word. Let’s know about the Cryptocurrency and
What is Cryptocurrency:
A cryptocurrency is a digital or virtual currency that is protected by Cryptography. Cryptocurrencies
are decentralized networks which based on blockchain technology. These Cryptocurrencies is to
trade for profit, with speculators at times driving prices skyward.
Cryptocurrencies work on Blockchain technology. Blockchain is a decentralized technology spread
across many computers and manages and records transactions. You’ll need to exchange real
currency for the cryptocurrency to access the good or service.
In 2009, the first Cryptocurrency, Bitcoin, was created by presumably pseudonymous developer
Technology behind the Cryptocurrencies:
Blockchain is the technology used Behind the Creation of cryptocurrency
What Is Blockchain Technology:
This is a system of recording information in a way that makes it difficult or impossible to
change, hack, or cheat the system.
A blockchain is a digital log of transactions that is duplicated anddistributed across the blockchain’s complete network of computer systems. Each block on the chaincontains a number of transactions, and whenever a new transaction occurs on the blockchain, arecord of that transaction is added to the ledger of each participant.
According to CoinMarketCap(A Website researches on Crypto Currencies), the total number of
cryptocurrencies is 7,812 with a total market cap of $324.716 billion (as of January 20, 2021).
Here is the List of Top 10 Cryptocurrencies by their Market capitalization:
Cryptocurrency – Market capitalization
Bitcoin (BTC) $732 billion
Ethereum (ETH) $304 billion
Binance Coin (BNB) $59.2 billion
4. Tether (USDT) $58.4 billion5. Cardano (ADA) $52.3 billion
6. Dogecoin (DOGE) $46.7 billion
7. Ripple (XRP) $41.3 billion
Polkadot (DOT) $26.6 billion
Internet Computer (ICP) $15.6 billion
Bitcoin Cash (BCH) $14.5 billion
Are crypto currencies legal:
Cryptocurrencies are not unlawful or illegal, and anyone can purchase, sell, or exchange them.
It is currently uncontrolled; we do not have a regulatory framework in place to oversee its operation.
The Indian government, on the other hand, is looking at crypto legislation.
Is It Good to Invest in Cryptocurrencies:
Cryptocurrencies may appreciate in value, but many investors regard them as speculative
investments rather than long-term investments.
Just like real currencies, cryptocurrencies generate no cash flow, so for you to profit, someone has to
pay more for the currency than you did.
But You Should Never Invest Major Part Of Your Money In It Invest That You Can Afford To Loose
How to Invest in CryptoCurrencies:
To buy/invest on cryptocurrencies, you’need a wallet, or an online application that holds your
currency. Generally, you need to create an account on the App/ Exchange provider, and then you
can transfer real money to buy cryptocurrencies.
Top Platforms to Invest on Cryptocurrencies:
So that’s all about Cryptocurrencies. Hope You All Liked the Content. We are going to bring more
Content for you on Cryptocurrencies and Blockchain Technology soon