What is cryptocurrency?
Cryptocurrency is a digital currency, designed to work as a medium of exchange.
It uses cryptography to secure and verify transactions as well as to control the creation of new units.
While intended to provide anonymity, cryptocurrency transactions are recorded in a public database called a blockchain.
Just like any other currency, the principle is that you can use this money to buy goods, and services.
You can invest in it too. Many people buy bitcoins to invest them in an attempt to raise the value of the currency.
Cryptocurrencies as a digital currency is being used increasingly all over the world. A form of electronic cash, it is designed to be secure.
Cryptocurrency is referred to as virtual currency because it is not linked to a bank or government and has no physical form.
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In a word, in my opinion, it is a total scam! But that is my opinion only!
Jeff
Totally agreed. That's the negative narrative cryptocurrency has to carry due to irresponsible actions by certain people. Overall, if it is done right and with good discipline as an investor, cryptocurrency investment can be a profitable passive income generator.
I understand. Thank you, my friend!
Jeff