{"id":2929,"date":"2018-07-31T11:36:01","date_gmt":"2018-07-31T11:36:01","guid":{"rendered":"https:\/\/holytransaction.com\/blog\/?p=2929"},"modified":"2018-10-01T17:06:19","modified_gmt":"2018-10-01T17:06:19","slug":"things-you-should-know-about-crypto-currency","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2018\/07\/things-you-should-know-about-crypto-currency.html","title":{"rendered":"Things You Should Know About Cryptocurrency"},"content":{"rendered":"

\"Things<\/p>\n

Living in a world of technology, where news through social media and live broadcasting is at our fingertips; it would be foolish to presume that the readers are oblivious of the word \u201ccryptocurrency.\u201d\u00a0<\/span><\/p>\n

All of us must have heard this word cryptocurrency on the media and if not there, then at dinner parties surely. But unfortunately, just knowing the word doesn\u2019t mean you can interpret or pick what it is and how does it work.<\/span><\/p>\n

No worriment, you are not all alone, despite the hype and press releases there is an overwhelming majority of people who have insufficient knowledge about cryptocurrency including bankers, finance dealers etc. Now let\u2019s discover what the fuss is all about, reading the article will end up providing you the information more than most of the people.<\/span><\/p>\n

Cryptocurrency a digital asset<\/b><\/span><\/p>\n

\u201cCryptocurrency will do to banks what email did to the postal industry\u201d<\/b><\/span><\/p>\n

The comprehensible definition of cryptocurrency: \u201cA cryptocurrency is a digital or virtual currency.\u201d but why it is called \u201cCrypto\u201d currency because it uses cryptography for security. <\/span><\/p>\n

Or it is a digital medium of exchange that uses encryption to secure the process involved in the transaction. The encoding process makes it impossible to counterfeit the cryptocurrency; therefore making the fund transfer safer between two parties.<\/span><\/p>\n

You can easily find more than 800 digital currencies in the market and Bitcoin is just one of them. Need to mention it as many people think that cryptocurrency and Bitcoin is the same thing with two different names. Like cryptocurrency is a whole tree and Bitcoin is just a branch of it.<\/span><\/p>\n

Although, Bitcoin is the world\u2019s oldest and well-known cryptocurrency, like any other digital currency it is not regulated or backed by the government. Sir Richard Charles said, \u201cThere will be other currencies like it that may be far better, but in the meantime, there is a big industry around Bitcoin.\u201d <\/span><\/p>\n

You might have heard the words Etherium or Litecoin, just other names of Cryptocurrency. Moreover, the name, symbol, and the price of the cryptocurrencies can be different depending on its end goal. When bitcoin first arrived, they were intended to be a way for the world to break away from banks.<\/span><\/p>\n

The use of cryptocurrency<\/b><\/span>\u00a0 <\/span><\/span><\/p>\n

Other than just an increase in value, many other reasons make it imperative for users to own it. It bestows the possibilities that no other currency allow. For example, the following<\/span><\/p>\n