John Doe

Cryptocurrency is getting much popular among youth and it is also being considered as the future currency.

Today we will know that what is cryptocurrency and how does it work.

Cryptocurrency is digital payment system secured by cryptography which makes crypto transactions secured.  

Cryptocurrency do not use centralized system or can say there is no regulating authority or central issuing authority for cryptocurrencies

It uses a decentralized system based on blockchain technology to record transactions and issue new coins or units

The first Crypto was Bitcoin which was founded in 2009 and still the market rank of Bitcoin is at number 1.

When it comes on creating new coins or units so new units are created through mining process which uses computer hardware and power to solve a mathematical problem  .

As crypto transaction uses cryptography to keep its online transactions secured without using third-party intermediaries .

Hot Wallet: Hot wallet is a online wallet which uses online software to protect your private keys which belong to your assets. These types of wallets do not charge fee.

Cold Wallet: Cold wallet is a a offline wallet which uses a hardware or physical device like USB stick. These are far safer than Hot wallets. These types of wallets charge fee.