Cryptocurrency information

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Nasif121

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4 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Cryptocurrency is a type of symbolic currency. Which has no real form. It only exists in the internet world. Transactions using it are only possible online. Whose entire activity is accomplished in a secure process called cryptography. Since 2016, it has become an emerging market.

Cryptocurrency

Currency exchange in cryptography method

Cryptocurrency exchange information

Description Edit

Cryptocurrency is a peer-to-peer system. It has no third party control. So no one else knows who is exchanging this digital currency with whom. Again, it can be traded without anonymity. However, its encrypted ledger controls all transactions from being risky. No country's government has the power to interfere in the value of cryptocurrency. So in many countries of the world, the government of that country has a ban on this digital currency.

Examples

Usually when we send money to someone, we take the help of the bank. Again, if the bank is not open, we send it through mobile banking (bKash, Rocket, UCash) or in many cases through courier and post office. The service provider collects service charge for completing this process. But since in cryptocurrency there is no need for a third party. So there is no extra charge. However, there is a minimum charge. To put it more simply, there are some app-based services. Many times mobile GP, My Robi or Dington, cam scan is used on mobile. If you recharge through these, the point comes and later you can buy data with them. And points are also available by looking at the advertisement. Later talking and cloud space is available using that point.

List of cryptocurrencies

There are over a thousand symbolic coins around the world. These include • Bitcoin • Etherium • Lightcoin • Ripple • Monroe • Dash • Bitcoin • Dodgecoin, etc. But Bitcoin is the predecessor and the most well-known of these. Its success has led to the emergence of more rival currencies. [1]

History

In 1973, the American cryptographer David Chaum began working on digital cryptocurrency exchanges. Named as e-cash. In 1995, he proceeded to implement the initial form of a cryptographic electronic payment, which is Digicash. The recipient then receives money from the sender after inputting certain encrypted keys into the software. However, this money is not like the currency (money, dollar, pound, dinar) operated in any state. Completely non-existent point. However, Satshi Nakamoto (any individual or group) successfully introduced digital cash payments without a central entity. Which is known as Bitcoin.

Procedure

Cryptocurrency since non-existent currency. Goes directly from sender to recipient through peer-to-peer system. Therefore, its exchange method is also different.

Wallet editing

Wallet online wallet. Which is online and offline, these are two types. The sender can send money from this wallet. And the recipient can fill in his own wallet. Each wallet has a specific encrypted address.

Blockchain

Transmitting cryptocurrency from one address to another is recorded in an encrypted ledger or open ledger. Which is called blockchain. The information stored here can be viewed from anywhere in the world.

Mining

Determining the validity of each transaction recorded in the blockchain is called mining. And those who do this work are called minors. As a result, there is no possibility of any kind of fraud. The identities of both parties remain secret.

Features

The fastest process of transaction.

Every user owns his digital currency. No one else can take ownership of it.

A user can open multiple accounts. No name, address or personal information is required.

There is no scope for corruption as the information of the transactions stored in the blockchain can be seen from anywhere in the world.

It is completely non-refundable. No return from wrong address.

Promotions

Bitcoin ATM

On February 20, 2014, the first Bitcoin ATM booth was opened in the United States to establish RoboCoin. Austin and Texas also have such ATM booths but its scanners can read passports and driving licenses. As of September 2017, 1,564 Bitcoin ATMs have been set up worldwide. An average of 3 Bitcoin ATMs are set up at an average cost of 9.05% per day.

Popularity

Cryptocurrency is very popular for online bikinis in many countries of the world. More than 30,000 organizations, such as Wikipedia, WordPress, and Microsoft, accept cryptocurrencies.

Price editing

The value of cryptocurrency is increasing day by day. The reason for the price increase is that accounting experts think it requires powerful computers and servers for mining. There is also the cost of electricity.

Access to Asia

On 15 August 2014, Bangladesh became the first country in Asia to join the Bitcoin Foundation. But the Bangladesh government banned bitcoin. There are several reasons behind this.

Abuse

There is no archive for storing cryptocurrencies. So if there is no backup, the data to be deleted through computer crash. There are also threats of hacking and malware attacks. There is also the risk of stealing digital money. Bitcoin has been stolen more than 40 times in its 34-year history.