What is Cryptocurrency?

Cryptocurrency is a digital or a virtual currency in which transactions are verified and records are maintained. It is a decentralized digital money that is secured by cryptography, which makes it nearly impossible to defraud. It is a form of digital asset based on blockchain technology where a network of computers or specialized hardware such as ASICs process and validate the transactions. Currently, there are over a thousand different cryptocurrencies all over the world, and many see them as the key to a fairer future economy. The first decentralized cryptocurrency is Bitcoin which was first released in 2009. Bitcoin transactions are relatively faster as compared to bank transfers in traditional currencies and are done with nominal or sometimes zero transaction charges. The 2nd most popular cryptocurrency after Bitcoin is Ethereum. The deployment of smart contracts and decentralized applications to be built and run without any downtime, fraud, control, or interference from a third party is enabled by Ethereum.

What is Cryptocurrency? How to Buy Cryptocurrencies?

How to buy Cryptocurrencies?

Firstly, you have to download the application on your mobile phone or you can log in to the official website of the selected exchange. In order to buy cryptocurrency, you should have a virtual account like a bank account which will be your blockchain wallet to make safe and legal exchanges and payments. There are various crypto exchanges like Unocoin , Zebpay, CoinDCX, WazirX , and many more. WazirX is India’s most trusted cryptocurrency exchange. In the application of the selected exchange, you can create your digital crypto wallet and have a unique wallet ID. The most active coins are multi-cap coins like Ethereum , Ripple (XRP), Dogecoin, Polygon , and more. You can buy or sell them on a cryptocurrency exchange. These are platforms that broker the trading of cryptocurrencies for other assets, including digital and fiat currencies. They are independent and operate just like stock exchanges do globally. In cryptocurrencies like Bitcoin, you need to check and examine the ups and downs of the coins, recent trends, future, etc., then choose accordingly.