During old days, the way of buying was bartering. Goods were exchanged or bought with goods of the same value, then golds and silvers also became a form of currency. Today, currencies are in the form of small, tangible copper coins, and tearable papers which we call Dollars, Pounds, Euros, Peso and many more; however, there’s a unique currency that is rapidly gaining value in the public eye; it’s called cryptocurrency.
What is Cryptocurrency?
Cryptocurrency by definition is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds — operating independently of a central bank.
All use cryptography to make advanced and secure transactions and transfer money across the globe. You are probably familiar with it or may have heard or read about it on the internet because, for the past year or two, cryptocurrency is creating a buzz.
Bitcoin was the first decentralized cryptocurrency in 2009. It was invented by an unknown and claimed Japanese developer, Satoshi Nakamoto. Since the decentralization of Bitcoin, cryptocurrency is gradually accepted on major sites like Overstock.com, OK Cupid, Pirate Bay, and WordPress.