What is crypto currency

Crypto currency has taken the world by storm over the last few years, but what exactly is it? Crypto currency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.

BITCOIN

Some examples that you may have heard of would be Bitcoin , Ethereum and Solana The simpler definition is that it is a digital currency, which is an alternative form of payment which is created by using encryption algorithms. So, the use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system.

If you want to use the different cryptocurrencies, you need a crypto currency wallet which is a place where you can transfer money into to then purchase your crypto through apps like Coinbase and Binance. Before you start buying and trading cryptocurrencies, you should do a lot of research before, so you know exactly what you are doing. There are many crypto youtubers, twitter and Instagram influencers that can help you learn more about the crypto world, for Example Gary Vaynerchuk or more commonly known as GaryVee. I would recommend checking out his Instagram and twitter pages because Gary Vee has become one of the most successful crypto and NFT (non-fungible token) in the world. He is a serial entrepreneur and serves as the chairman of VaynerX and the CEO of VaynerMedia.

Gary is considered one of the leading minds on what’s next in culture, relevance, and the internet so I feel that I have learned a lot from him. Cryptocurrency is in a decentralised structure which allows all of them to exist outside the control of the governments and central authorities. In my research I was able to see that most experts believe that blockchain and related technology will disrupt many industries, including finance and Law.

The advantages of crypto currencies include cheaper and faster money transfers and decentralised systems that do not collapse at a single point of failure.

Nevertheless, there are disadvantages that you should consider before investing. Cryptocurrencies’ disadvantages are that their price is volatile, high-energy consumption for mining crypto, and use in criminal activities because as I said earlier it exists outside the government and central authorities. The Idea is that eventually crypto will be the main currency platform that people will use in the future.

I recently recorded a podcast with University Student and Crypto Investor JJ Obrien, we spoke all about getting started with crypto and the world that has been created by it.

Here is the link to that podcast - https://soundcloud.com/user- 902991374-53573884/crypto-currency-for-beginners/s- kxafzFEHlTh?utm_source=clipboard&utm_medium=text&utm_camp aign=social_sharing