What is cryptocurrency?
Source: cnbc.com
A cryptocurrency or just crypto is a type of digital currency in which all the transactions are first verified and recorded and are maintained in a decentralised system using secure technology or cryptography. They doesn't have any centralised and regulated body and hence are independent and has zero restrictions. They work on the technology Known as blockchain.
What is a blockchain?
Source: simplilearn.com
It is system in which records of transaction are made in cryptocurrency and are maintained across many computer systems which are linked with peer to peer network.
Types of cryptocurrency
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Source: publish0x.com
There are different types of currency available on the system. These digital currency are commonly interchanged with coins which are virtual in nature i.e doesn't exist in real life.
Utility tokens
It is meant to provide access to the platform service on which they are available and work on them. Example: funfair,brickblock,timicoin, golem etc.
Security tokens
There usage and assurance are governed by some financial regulation which act upon them. Example: sia funds and science blockchain.
Payment tokens
They are used for paying for the goods and services inside or outside there platforms. Every cryptocurrency comes under this category of token. Example: solana, ethereum, bitcoin.
Exchange tokens
Exchange tokens are the indigenous to the crypto exchange platforms. Example: binance coin, gemini usd, kucoin token etc.
Non- fungible tokens
Non fungible tokens are the cryptocurrencies with limited issues which has a unique identity and make them difficult to copy or replicate them. Example: they include logan paul video clips, Twitter founder jack dorsey first tweet nfts, etc.
Some cryptocurrency
There are many known coins and currency in the market
Image Source: techcabal.com
Bitcoin
Ethereum
Solana
Shiba inu
Dogecoin
Matic network
Tether coin
USD coin
Binance coin
Cardano
Polkadot
Litecoin
And many more..
Crypto exchange platforms
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Source: investopedia.com
There are many crypto platforms where you can buy and sell the cryptocurrencies at different prices level at any period of time. Some examples are:
Coinbase
Binance
Kraken
Gemini
Kucoin
Wazirx
Robinhood
And there are many more which helps in crypto exchange around the world.
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