John Ross Savage
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Cryptocurrency Explained: What is Cryptocurrency and How to Invest in it
What is Cryptocurrency? Cryptocurrency is a digital currency that uses encryption to ensure a secure and anonymous way to buy, sell, trade, and invest. Although there are several different kinds of cryptocurrencies, they all share these qualities. Cryptocurrency is created through a process called mining, where computer owners are rewarded with cryptocurrency for lending their computing power to verify other people’s transactions. Cryptocurrency can be traded on a number of different exchanges, bought and sold with a number of different currencies, and used to purchase goods and services, just like normal money. Cryptocurrency is decentralized, which means it isn’t controlled by any one government or company. Instead, it is controlled by a global community of computer owners. This means that governments, hackers, and other malicious actors have a much harder time stealing your money.
By John Ross Savage2 years ago in Trader