What is Cryptocurrency?

Date: 18.08.2021

Simply saying, cryptocurrency is an artificial currency that equates in price to real money. The cryptocurrency price depends on the trust and demand among investors.

The cryptocurrency is stored in an electronic wallet. It is mined using blockchain technology, which implies the absence of centralized control and the impossibility of changing or deleting information.

It is the main difference between cryptocurrency and real money. Real money is issued and controlled by national banks. But with blockchain technology, it is not banks and payment systems that store registers but computers of any user with special software installed.

It means you can find out everything about when and how much cryptocurrency was used in the entire history of its existence. Also, cryptocurrency is global and universal. Cryptocurrency account cannot be blocked, it is anonymous and can be used anywhere.