What is Crypto Currency ?

Crypto Currency is a digital currency or a virtual currency used for transactions of money online for buying goods and services . Crypto currency which is also known as Crypto uses Cryptography technique to secure payments . Unlike other currencies issued by governments it uses decentralized network based on blockchain technology . It’s a peer-to-peer system which can enable anyone all over world to send and receive payments . Crypto currency is stored in digital wallets .

Some Renowned Crypto Currencies

Bitcoin :

Bitcoin was the first crypto currency in the world , created by an anonymous person Pseudonymous Satoshi Nakamoto in year 2009 . Nakamoto published a white paper known as Bitcoin – A peer-to-peer electronic cash system . introducing the idea of a digital currency that operates without a central authority .

Doge Coin :

Doge coin is a renowned crypto currency founded by two software engineer friends Jackson palmer and Billy Markus . it was released on 6th December 2013 and credited as world’s first ever meme coin with the image of Shiba Inu dog as it’s logo .

Ethereum :

Ethereum is a open source crypto currency created by Vitalik Buterin and  Gavin Wood and released on 30th July 2015 . It’s a technology which is s home to digital money , applications and global payments .It’s open for everyone , wherever you are in world – all you need is the Internet

How to buy Crypto Currency ?

If you want to buy any crypto currency , you will need to visit a crypto currency exchange . crypto currencies are in the form of coins , after buying those coins you will need to transfer them into the digital wallet or you will need to use any third party like coinbase to store your coins .

Steps to buy crypto currency

1 . choose a broker or crypto exchange

2 . create and verify your Account

3 . Deposit cash to invest

4 . Place your crypto currency order

5 . Select a storage method

Advantages and Disadvantages of Crypto currency

Advantages	Disadvantages
The blockchain technology underlying the cryptocurrency is inherently secure .	Expensive to participate in a network and earn .
Easier to transfer funds between parties	crypto has serious scalability issues .
High risks and the potential for High rewards	pseudonymity allows for criminal uses .
Remove third parties	Prices are very volatile .
Crypto currency could help investors beat inflation .	The rules and regulations are not set in stone

Is crypto currency a safe investment ?

It’s a legitimate question , given the recent spike in crypto currency trading and government struggles to keep up with consistent regulation . The answer to this question is , atleast for now is complicated . It have attracted a reputation as unstable investments due to high investor losses from scams , hacks , bugs and volatility . It comes with some security risks that you should know about before investing or making your first trade in crypto .

Crypto currency investors should be aware of the following risks

1 . Blockchain technology is still relatively new .

2 . Crypto currency is extremely an volatile investment .

3 . Cryptocurrencies are still largely unregulated .

4 . Crypto currency scams are a growing concerns .

5 . Market manipulation is a substantial problem in crypto currency .