Cryptocurrency is a type of token currency. Which has no real appearance or form. It exists only in the internet world. Transactions or purchases using it are only possible online and offline impossible. It is stored through certain data. Its entire operation is done in a secure process called cryptography. It is named cryptocurrency after its cryptography. In 2017, the cryptocurrency market suddenly became an emerging market.
Cryptocurrency is a peer-to-peer transaction system. And this pair means pair. It does not contain any third party controls. So no one else can know who is transacting this digital or virtual currency with whom from where. But its encrypted ledger keeps all its transactions from being compromised. So there is no need for any third party to validate the transaction. No country or government interferes in the rise of cryptocurrency prices. Or even if someone wants to do it, not all. Therefore, the use of this digital currency is prohibited in many countries of the world.
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Generally when we send money to someone there is no help from the bank. If the bank is not open then we send via Mobile Banking (Bkash, SureCash, Rocket, Cash, UKash) or in many cases through Courier Service or Post Office. The service provider collects the service charge for completing this process. But since in cryptocurrency there is no need for third parties. So there is no extra charge but minimum charge for block validation. If you want to explain it more easily, it can be said that some services are based on apps. Many mobiles can use my gp, my robi, my airtel. And you can get points by watching ads. Later use these points to get talk and cloud space.
Edit List of Cryptocurrencies: There are more than six thousand symbolic or digital or virtual currencies around the world. These include the most popular digital currencies Bitcoin, Ethereum, Litecoin, Ripple, Monero, Ada, Dash Dogecoin etc. But among them, Bitcoin is the predecessor and the best known. It was mainly because of its success that rival currencies were born.
History of Bitcoin: In 1983, American cryptographer David Chaum started working on the issue of digital money exchange using cryptographic methods. Which is called e-cash or electronic cash. That is, that which cannot be grasped, cannot be touched. In 1995 he went on to implement an early form of cryptographic electronic payment through DigiCash. Later, after inputting the specified encrypted keys into the software, the receiver receives the sender's money. Completely non-existent point. But it is not like a state-run currency (dollar, pound or dinar). Completely non-existent point. However, Satoshi Nakamoto successfully introduced decentralized digital cash payments in 2009. Which is known as Bitcoin. However, on October 31, 2008, he published the Bitcoin whitepaper.
What are crypto wallets: There are two types of wallets or money bags. One is the online wallet and the other is the offline wallet. From this wallet the sender can send money and the receiver can deposit money into his own wallet. Each wallet has a specific encrypted address.
Blockchain Key: To send cryptocurrency from one address to another, it is recorded in an encrypted ledger or open ledger. Which is called Blockchain.
What is Mining: Determining the validity of each transaction recorded in the blockchain is called mining. And those who do this work are called miners. As a result there is no possibility of any kind of fraud. Both sides remain anonymous.
Cryptocurrencies are completely digital currencies or currencies. What cannot be grasped, cannot be touched. It exists only on the internet. Example: Bitcoin, Litecoin, Ethereum, Bitcoin Cash etc. The most popular of the cryptocurrencies is Bitcoin.
Cryptocurrency prices fluctuate constantly. Cryptocurrency prices suddenly fall and then suddenly rise. Thus, its price increases and decreases constantly. Since there is no central regulator of cryptocurrency, its value or price movement depends entirely on market demand. If there are more clients in the market, the price starts to increase, and similarly, if the clients in the market decrease or the demand decreases, then the price of that particular cryptocurrency starts to fall.
Coinmarketcap.com is a website where we can get complete information about the price of all types of coins, the history of that coin. What was the price two months ago? We can see what the prices were like a year ago on this website. We can see the current price of any cryptocurrency by visiting this website.
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