What is Cryptocurrency?: Cryptocurrencies are in full swing these days, which is recommended to invest in Cryptocurrencies. But what is this cryptocurrency, few people know.

And why not flee Cryptocurrencies have consolidated their position in the end market. Crypto Currency is also called digital money. Because Cryptocurrency is only available online, it is not marketed in the form of a note or coin.

Just as common currencies are available in every country like Rupee in India, Dollar in America, Euro in Europe etc. Similarly, Cryptocurrency is also being adopted all over the world and it is being used a lot. Apart from this, it is also important to understand that the Government of India has no hand on this Cryptocurrency. Since it is a decentralized currency, it does not mean that any agency or board has authority over the Cryptocurrency. And it cannot be regulated by the government.

So today I thought that people of India should tell a little bit about Cryptocurrency so that you too can earn some money by using it. Today I am going to give you complete information about Cryptocurrency, do not limit this information to yourself, tell and share it with your loved ones also. So let us know what is Cryptocurrency and how many types are there.

Cryptocurrency is commonly called digital currency. And it is a kind of digital asset. Cryptocurrency is also being used to buy things or services. In all this, cryptocurrency is being used more. If said, it is a peer to peer electronic system. This currency is bought and sold online only.

If you have online crypto currency, then you can use this currency instead of regular currency. You can easily use this currency to buy goods and services. All these transactions are done without informing the banks, so this cryptocurrency is also being misunderstood.

What Is Cryptocurrency: How To Invest?

For your information, let us tell you that just now in Cryptocurrency, Bitcoin was brought for these works. That is, transactions are being done with bitcoin. In view of this, many types of new cryptocurrencies have come in the market. If seen, more than 1000 cryptocurrencies have come in the market so far.

But all these cryptocurrencies are a bit more famous or said to be trending in cryptocurrencies. Today we will tell you about some special crypto currency crypto currency, so that you can also invest in them or buy online.

The big people of the world are also running after crypto currency nowadays. If seen, the first famous was bitcoin (it is a type of cryptocurrency cryptocurrency) and it was created first. And most of it is also bought. In recent years, there has been a lot of controversy surrounding bitcoin but bitcoin is still on top. So let me tell you about some more new popular cryptocurrency Cryptocurrency, which will help you some more.

Read More: What is Bitcoin? Step-by-Step Process to Buy Bitcoin 2022

Types Of Cryptocurrencies

By the way, there are 1000 types of Cryptocurrency Cryptocurrency. But there are only a few of them who are doing well. Which you can buy and earn profit.

1. Bitcoin (BTC)

Cryptocurrency is the father of all in cryptocurrency as it was the first to hit the market and it is the second cryptocurrency of the deck to have entered the cryptocurrency market. Bitcoin was created by Satoshi Nakamoto in Jan. 3, 2009. It was created for online use only, with the help of which we can buy goods and services online only.

It is a cryptocurrency over which the government has no right. If we talk about it compared to before, then the price of bitcoin has increased a lot right now. Right now its rate is running around 13 lakhs. That is, one bitcoin of 13 lakhs. With this you can tell the society how much its value has increased.

2. Litecoin (LTC)

It is also a decentralized peer-to-peer cryptocurrency. It was created in October 2011 by Charles Lee under open source software (MIT/X11 license) and Charles Lee has been an employee of Google. It is said that the great heat of bitcoin is behind its creation and this currency is also similar to bitcoin.

All its features match those of bitcoin. The same Litecoin’s block generation time is 4 times less than that of Bitcoin. Therefore, the transaction takes place very quickly. And the Scrypt algorithm has been used in it. which is used for mining.

3. Peercoin (PPC)

Peercoin (August 2012) is also completely based on the protocol of bitcoin. Its source codes are also similar to each other. In this, along with Proof of Work, Proof of Stake system is also used to verify the transaction.

It is also a peer-to-peer cryptocurrency. It is exactly like bitcoin. Its source code is released under the MIT/X11 software license. This coin also uses SHA-256 algorithm. With the help of this algorithm very little power is required for meaning.

4. Ripple (XRP)

Ripple Cryptocurrency was released in 2012. And it is based on the whole distributed open source protocol. Ripple is a Real-time Gross Settlement System (RTGS) that runs its own cryptocurrency. The market capture of this currency is very high.

Its market capture is $10 billion. Ripple offers its users the convenience of “secure, instant and virtually free global financial transactions”. There is also no chargeback for this cryptocurrency.

5. Dogecoin (Doge)

The story of the formation of this cryptocurrency is quite interesting. Someone jokingly compared bitcoin to a dog and later it came as a cryptocurrency. The name of the creator of this is Billy Marcus December 2013. Like Litecoin, Scrypt Algorithm has also been used in this.

The market value of this coin made in jest is more than $197 million. At the same time, this cryptocurrency has been accepted by more than 200 merchants of the world. At the same time, its mining is also faster than other coins.

6. Faircoin (FAIR)

Faircoin is part of a much bigger grand vision for the socially conscious. And it is part of a Spain-based cooperative also known as the Catalan Integral Cooperative or CIC. Faircoin’s technology uses bitcoin’s blockchain technology. In terms of social-creative design, 2014 Faircoin does not rely on mining or mining of new coins like other cryptocurrencies.

But Faircoin uses Authenticated Verification Nodes or CDNs for block generation. Science in cryptocurrency is also verified and Faircoin uses ‘proof-of-cooperation’ in lieu of proof-of-stake or proof-of-work to verify coins.

7. Dash

The earlier names of this currency were XCoin and Darkcoin 18 January 2014, Dash, Dash means ‘digital’ and ‘cash’. It is also an open source, peer-to-peer cryptocurrency similar to bitcoin. If seen in the same, it has more features than bitcoin. Like ‘InstantSend’ and ‘PrivateSend’. With InstantSend, users can easily send money instantly. User transactions in Privatesend are completely secure. Privacy is taken care of at Dash Currency.

In the same dash the algorithm named ‘abnormal’ is used. The special technology of ‘X11’ has been used in this algorithm. With the help of this, it is operated even with very less powerful hardware. Due to which more and more people mine their own currency. The same X11 is a very energy efficient algorithm, consuming 30% less power than Scrypt.

8. Monero (XMR)

Monero was originally coined from a fork of Bytecoin. In the year April 2014 and since then it had turned profitable. This cryptocurrency works across all systems like Windows, Mac, Linux, Android and FreeBSD.

Like Bitcoin, Monero is also focused on privacy and decentralization. The most important difference between these two is that high-end GPUs are used in Bitcoin, whereas consumer-level CPUs are used in Monero.

9. Ethereum (ETH)

It would not be wrong to say that Ethereum is the brother of Bitcoin. Because its price is also increasing. And Ethereum is also an open-source, decentralized blockchain-based computing platform. It was created by Vitalik Buterin (30 July 2015). This cryptocurrency is also called “ether”.

Buy this currency as a token. Which users use to make purchases. Recently, due to the presence of hard forks, Ethereum was given talks in two departments. It is the second most popular cryptocurrency after Ethereum (ETH) and Ethereum Classic (ETC) and Bitcoin

Read More: How Much Does IT Cost TO Develop A Blockchain Cryptocurrency App?

Advantages of Crypto Currency

  • The chances of fraud taking place through cryptocurrency are negligible.
  • Cryptocurrency payments are the safest.
  • The transaction fee is also very less in this.
  • These accounts are very secure due to the cryptography algorithm.

Disadvantages Of Cryptocurrency

In cryptocurrency, once a transaction is completed, it is impossible to reverse it as there is no such option available.

If you forget to power your wallet, it is very difficult to recover it. So keep your wallet password carefully because if you forget then all the money in your wallet will be gone forever.

Hope you have got complete information about Cryptocurrency. I have tried to give complete information from my side. Do not limit this information to yourself, share it with your neighbourhood, relatives, your friends, so that everyone is aware and everyone is well. If you guys help me I will be very helpful. And I will always try to give you accurate and complete information.