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"Know What Is Cryptocurrency"

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Avatar for Ardian1206
Written by   13
1 year ago

This current era was not quite the same as it was several decades earlier. The reason is, in the last 2 decades, the world has been divided into two, namely the virtual world and the real world. Starting from the 2000s cell phones began to appear. Followed by smart phone technology, which operates not only for calling and sending messages, but also for processing data like a computer.

Even smart phones have now been able to replace the role of computers so that the world seems to be in our hands. As the internet continues to dominate, cryptocurrency has also begun to surface. For people who are far from the world of technology, the meaning of cryptocurrency may still be difficult to digest. So, what is cryptocurrency and how does it relate to technology and the internet?

Above mentioned a little about the sophistication of cyberspace or the internet. This has a lot to do with understanding cryptocurrency. The simplest explanation of cryptocurrency is that cryptocurrency is digital money. Its relationship with the internet is that cryptocurrency is used for transactions made over the internet. Because transactions and payments are virtual, cryptocurrencies need good security so that our virtual “property” is not easily stolen by others. A code that is more complicated than usual is required to secure this digital money.

Transactions made with this money are straightforward without a third party or third party. For transactions using digital money, ordinary computers are less able to accommodate it. Sophisticated computers are used. The platform used is usually Blockchain. With this platform, digital money can be used to transact smoothly and well. To understand more about cryptocurrency, here is a brief history of cryptocurrency.

Bitcoin is the first cryptocurrency that was created and launched to the public in 2009. Its creator or creator is Satoshi Nakamoto. For security, cryptography is the method used. Bitcoin storage is in the form of files in a digital wallet or wallet.

In addition, this digital money can also be stored / deposited in digital wallet services at third parties. Because transactions made with Bitcoin are direct, they are also known as decentralization. The bank does not supervise this transaction. This is because, in fact, the emergence of Bitcoin is a reaction to the financial tragedy that occurred in the United States in 2008.

Conventional banking at that time was in difficult times so that the emergence of digital money was a breath of fresh air for internet transaction players. However, it also means that conventional banking is gradually starting to be eliminated. Blockchain as a platform that launches transactions using Bitcoin while ensuring the honesty and transparency of transactions made.

Then many other countries started using digital money. Many view that this is a new sophisticated and sophisticated way of doing transactions. Apart from sophistication, its decentralized nature is also popular. Apart from the already mentioned Bitcoin and being the first, there are many other digital currencies in circulation.

Cryptocurrency can be an alternative for investing. However, not all digital money is of high value. Therefore, not all digital money is offered. Only high value digital money is used. The high value does not always stay at the same number because the value fluctuates quickly.

Investments and buying and selling activities using digital money have only recently been permitted in Indonesia. Previously, it was not known for sure whether this transaction was prohibited or not. Previously, transactions with cryptocurrency were done clandestinely. Starting from 08/02/2019, Bappebti, the agency that oversees the futures market, has given its blessing and regulates all activities that use cryptocurrency through regulation No.5 (which was passed in 2019). Today, transactions with cryptocurrency need not be covered up anymore. It is stated that digital money in Indonesia must meet several criteria, namely in the form of crypto assets or having collateral in the form of assets.

Currently, there are 12 recognized and very popular digital currencies. Apart from these 12 digital currencies, there are many other digital currencies. However, it is these 12 coins that have an average market capitalization of over $ 1 billion. The first is the oldest and was first created, namely Bitcoin with a high market capitalization of up to $ 63.66 billion. In second place is Ethereum which has a capitalization of $ 12.97 billion. Next is XRP ($ 12.51 billion. Rank 4 and up (randomly) are EOS, Bitcoin SV, Bitcoin Cash, Stellar, Tron, Tether, Binance coin and Litecoin. Meanwhile, the exchange that provides various digital money is ICE or Intercontinental Exchange. , CME (Chicago Mercantile Exchange and CBOE (Chicago Board Options Exchange. These three providers are located in the US or United States of America.)

Hopefully this understanding of cryptocurrency adds knowledge to those of you who have never heard of it and also for those of you who plan to invest with digital money.

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Written by   13
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