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CRYPTOCURRENCY

A NEW CURRENCY OF THE FEATURE

BREAKING DOWN

A cryptocurrency is a digital orvirtual currency that uses cryptography for
security. A crypto currency is difficult to counterfeit because of this security

feature .A defining feature of a cryptocurrency,and arguably its most
endearing allure, is its organic nature; it is not issued by any central
authority, rendering it theoretically immune to government interference or

manipulation.

Cryptocurrencies make it easier totransfer fundsbetween twoparties in a

transaction;these transfers are done with minimal processing fees, allowing
users to avoid the step fees charged by most banks and financial institutions

for wire transfers.

The first cryptocurrency to capture the public imagination was Bitcoin,

which was launched in 2009 by an individual or group known under the
pseudonym Satoshi Nakamoto. As of May 2018, there were over 17 million bit

coins in circulation with a total market value of over $140 billion. Bitcoin’s
successhas spawned a number of competing cryptocurrencies, suchas Lit coin,

Name coin and PPCoin.

Bitcoin : A new face of crypto currency

Bit coin is a new currency that was created in 2009 by an unknown person

using the alias Satoshi Nakamoto. Transactions are made with no middle men-
meaning.no banks! Bit coin can be used to book hotels on Expedia. Shopfor

furniture onOverstock and buy Xbox games. But much of the hype is about
getting rich by trading it. The price ofbitcoin skyrocketed into the thousands

in 2017.

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