What is cryptocurrency and its pros and cons ?

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 Hello, guys today we are going to cover the topic of cryptocurrency

before that, we should understand the parent chain of all digital cryptocurrency


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What is cryptocurrency?

A cryptocurrency is an encrypted data string that denotes a unit of currency. 

It is monitored and organized by a peer-to-peer network called a blockchain, 

which also serves as a secure ledger of transactions online, 

e.g., buying, selling, and transferring.


cryptocurrency



How does cryptocurrency make money?

Cryptocurrency operates on a blockchain, the digital ledger of cryptocurrency transactions,

ensuring that the same coin is never used twice. Transactions are processed on a blockchain network 

made up of thousands of machines and in return for the efforts of these machines, 

owners can earn cryptocurrencies. it is a kind of reward for the helpers who make 

possible this transactions successful.


What is the main purpose of cryptocurrency?

The main purpose of cryptocurrency is to make a large number of transactions easy,

and store e-cash


Is crypto real money?

No crypto is not real money as it cannot be touched, it is like a collection of hashes


Can cryptocurrency be converted to cash?

Yes cryptocurrency can be converted into cash by using any of them

eg. WazirX, CoinDCX, CoinSwitch, Kuber, etc.



How do beginners invest in Bitcoins?

  1. Join a Bitcoin Exchange.
  2. Get a Bitcoin Wallet.
  3. Connect Your Wallet to a Bank Account.
  4. Place Your Bitcoin Order.
  5. Manage Your Bitcoin Investments.


Is cryptocurrency safe in India?

Yes, cryptocurrencies are safe in India, as Cryptocurrencies are digital assets— that you can use as investments and even for online purchases. 

It is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.



Is it safe to invest in cryptocurrency?

investing in anything can be safe as well as unsafe too because the market is not stable there are always ups and down, invest in crypto at your own risk.


Top 11 pros of cryptocurrency?

1.  Easy Transactions

2.  Incredible Security

3.  Short Settlement Times and Low Fees

4.  Outsized Returns

5.  Transaction speed

6.  Accessibility

7.  Security

8.  Privacy

9.  Transparency

10. Diversification

11. Inflation protection


Top cons of cryptocurrency?

1.  Cryptocurrency's extremely volatile. 

2.  Stocks are known to be a far more volatile investment choice than bonds.


What is an example of cryptocurrency?

Bitcoin (BTC) Market cap: Over $846 billion

Ethereum (ETH) Market cap: Over $361 billion

Tether (USDT) Market cap: Over $79 billion

Binance Coin (BNB) Market cap: Over $68 billion

U.S. Dollar Coin (USDC) Market cap: Over $53 billion

XRP (XRP) Market cap: Over $37 billion

Terra (LUNA)

Cardano (ADA)

Getting Info...

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