What is a Cryptocurrency - Myguideout

I am on my crypto journey and I will be sharing as I learn.

Today let's start with what Crypto-Currencies is.

• The Definition

• History of Cryptocurrency

• What's the Essence of Crypto-Currency (Uses)

• Most Common Crypto-Currencies

• How to Own A Crypto-Currency

Lesson 1: The Definition

Crypto currency is Simply a virtual form of currency designed to make exchange easier, secured and decentralized.

With cryptographical functions, it is used on the internet as a medium of exchange built on a blockchain technology for more transparency and immutability.

Lesson 2: The History of Crypto currency

The journey of Crypto never started today but dated back to the 90's

In the 90's, during the tech boom, there were several attempts on creating a virtual currency which crash after several efforts. Systems like Flooz, Digicash and several others emerged on the market but failed due to some reasons, which some of them included; Fraud, dis-concord within partners....

A more major reason to the failure was traced to the centralization of the currency.

A anonymous programmer or {Programmers} emerged in 2009 under the alias Satoshi Nakamoto and introduced Bitcoin

Lesson 3: Most Common Crypto-Currencies

1. Bitcoin

2. Etherium

3. Bitcoin Cash

4. Litecoin etc...

Lesson 4: What's the Essence Of Crypto currency (Uses)

1. Make Purchases

2. For Investment purpose

3. Mining

4. and lots more...

Lesson 5: How to own a Crypto currency

1. Crypto currencies can be purchased from trusted crypto platforms like Bitcoin.com and others.

2. One can mine Crypto-Currencies from Crypto mining platforms.

3. You can play games

4. You can own a Crypto currency by reading peoples articles and equally from writing yours

5. You can earn a Crypto currency from faucets and reviews.

Conclusion

At the end, I believed you've had a little idea about what a Crypto currency is.

You can subscribe to get notified when the next topic 10 Most Common Crypto Currencies.