What is crypto currency and how does it work? CryptoCurrency

CryptoCurrency Kya Hai: You must have heard about cryptocurrency through the Internet. But do you know what is cryptocurrency and how it works, when cryptocurrency was invented, how to invest in cryptocurrency, how to earn money from cryptocurrency, what are the advantages and disadvantages of cryptocurrency, and what will be the future of cryptocurrency in India?

 

If similar questions keep coming into your mind about cryptocurrencies, then through this article today we will try to answer your questions.

 

Cryptocurrency is a digital currency that we cannot touch, keep with us, or hide in banks or safes. We can keep cryptocurrencies in our digital wallet and do online transactions as well as trading in cryptocurrencies.

 

Many experts say that cryptocurrencies will be used permanently in the future, and many say that cryptocurrencies have no future. For this reason, cryptocurrencies are considered illegal in many countries of the world, while cryptocurrencies have been legalized in many countries. India is also on the list of countries where cryptocurrency is legal.

 

To get detailed information about cryptocurrencies, read this article till the end. So let's start today's article without any delay – What is Crypto Currency?

 

What is Currency

 

sequence

 

1 What is Currency

2 What is a cryptocurrency and how does it work (Cryptocurrency )

3 History Of Cryptocurrency

4 Names of some major cryptocurrencies

5 Advantages Of Cryptocurrency (Advantage Of Cryptocurrency )

6 Disadvantage Of Cryptocurrency

7 How To Make Money With Cryptocurrency (Cryptocurrency Se Paise Kaise Kamaye)

7.1 1 – Earn money by trading cryptocurrencies

7.2 2 – Earn Money Stacking Cryptocurrencies

8 How To Invest In Crypto Currency (Invest Crypto )

9 Best Platform Applications to Invest in Cryptocurrencies in India

10 Future of Cryptocurrencies in India

11 FAQ: Join Cryptocurrency FAQ

12 Last Words: What is Crypto Currency 

12.1 Related Articles 

 

Currency is such a money system that is recognized by a country and has value. Currency is used as money by the people of that country, people can buy things using currency.

 

Currency is called currency. Nowadays almost all the countries have their own currency India's currency is Rupee and America's dollar similarly other countries also have different currencies.

 

Currency is printed on paper or metal pieces (coins). Currency is in physical form, meaning we can touch it, and keep it with us. That's why the currency is also called physical currency. But cryptocurrency is very different from this.

 

What is a cryptocurrency and how does it work (Cryptocurrency )

A cryptocurrency is a digital currency that is built on a computer algorithm. It is a digital asset through which you can buy things online. Cryptocurrency is an independent currency, due to its decentralized, no one owns it nor does the government of any country in the world have authority over cryptocurrency. Cryptocurrencies work as a peer-to-peer electronic system by which we buy a service or a good through the Internet. No bank or government permission is required to use cryptocurrencies.

 

Being in digital form, we cannot touch the cryptocurrency nor can we keep it with us in physical form. Through cryptocurrencies, people can shop online as well as trade in crypto.

 

Technically speaking, cryptocurrency is a virtual currency based on Blockchain Technology which is secured by Cryptography. Cryptocurrency is also known by the names of Digital Currency, Virtual Currency, or Electronic Currency.

 

History of Cryptocurrency

The cryptocurrency was started in 2009 named bitcoin. Bitcoin was created by Japanese engineer Satoshi Nakamoto. Initially, it was not so popular, but gradually the rates of cryptocurrencies started increasing very much, and on seeing the cryptocurrency became very expensive, after which people's attention went to cryptocurrencies and people started investing in it.

 

In 2009 the value of cryptocurrency was 1 rupee but today 45 lakhs is the value of 1 bitcoin. Initially, cryptocurrency was illegal, but gradually seeing the popularity of cryptocurrency, some countries made it legal. There are still many countries where cryptocurrency is illegal. Talking about India, cryptocurrency is completely legal here.

 

Names of some major cryptocurrencies

Although there are hundreds of cryptocurrencies out there, some of the major cryptocurrencies that are performing well are listed below –

 

• Bitcoin
• Ethereum
• Redcoin
• Solana
• Ripple
• Litecoin
• Monero
• Tether
• Dogecoin
• Shiba Enu (Shiba Coin)

 

Advantages of Cryptocurrency

There are many benefits of cryptocurrencies, some of which we have mentioned in the article –

 

• Cryptocurrency is a digital currency, and the possibility of fraud in it is very less.
• Cryptocurrency is not available in physical form, we cannot keep it in a vault or bank, due to which there is no possibility of cryptocurrency being stolen, mutilated or lost.
• Trading in cryptocurrencies is very easy. You can earn good money by trading in cryptocurrencies.
• Investing in cryptocurrencies is a good option, as their prices tend to fluctuate rapidly.
• Cryptocurrencies are not operated by any bank, government, or country. It is a free currency.
• Cryptocurrency is very secure because Cryptography Algorithm has been used in it.

 

Disadvantage of Cryptocurrency 

Due to the many advantages of cryptocurrency, it also has some disadvantages which are mentioned below –

 

• Cryptocurrency is a digital currency, so there is a risk of hacking in it. This has happened with Ethereum.
• Cryptocurrency is not under the control of any country, so its prices keep fluctuating unexpectedly.
• Once the transaction is done, there is no option to reverse the cryptocurrency.
• Some fanatical minds can use cryptocurrencies for illegal purposes such as buying weapons, drugs, etc.

 

How To Make Money With Cryptocurrency (Cryptocurrency Se Paise Kaise Kamaye)

Following are some of the major ways to earn money from cryptocurrency –

 

1 – Earn money by trading cryptocurrencies

Trading is the best way to earn money from cryptocurrencies. You can earn good money by trading in cryptocurrencies. You can buy and hold cryptocurrencies until the price of cryptocurrencies increases. And when the price of cryptocurrencies increases, then you can earn a good profit by selling crypto.

 

The price of cryptocurrencies fluctuates unexpectedly, so the crypto you are buying today for 10 rupees can be worth 10 thousand or 1 lakh or even more after a year or two.

 

2 – Earn money by stacking cryptocurrencies

You can also earn good money through cryptocurrency stacking. But many people do not know about Staking. The way we open FD in the bank, is in which we deposit money once for a certain time, and when we withdraw money from FD, we get that money with interest.

 

Similarly, there is also cryptocurrency Staking, we can keep the crypto bought by us by stacking it in some place and we will keep getting interested as long as we keep the crypto stacked. In this way you can earn money from Crypto Staking.

 

Although not every crypto has the feature of Staking, so whenever you want to do Crypto Staking, check once whether the cryptocurrency you buy has the feature of Staking or not.

 

How to Invest in Crypto Currency (Invest Crypto )

 

Cryptocurrency trading takes place on the Best Crypto Exchange or Peer to Peer network. To invest in cryptocurrencies, you have to choose the right platform and create your account on that platform through email ID and complete the KYC of your account.

 

After that, you can invest in cryptocurrencies. You can select the best currency by doing research. The returns in cryptocurrencies are very good. But there is also an unexpected fall in its prices, due to which there is also a risk of losing money, so it is important to research well before investing in cryptocurrencies.

 

Best Platform Application to Invest in Cryptocurrencies in India

Best Crypto App Platforms are available to invest in cryptocurrencies in India. But we have suggested some reliable platforms below by which you can invest in hundreds of cryptocurrencies –

 

• WazirX
• Coin Switch Kuber
• CoinDCX

 

Future of cryptocurrencies in India

Cryptocurrency has been legalized in India. Many platforms are also present in India to invest in cryptocurrencies. And many people are also investing in cryptocurrencies.

 

Talking about the future of cryptocurrencies in India, looking at the present time, it seems that a large number of people will invest in cryptocurrencies going forward. Many experts believe that cryptocurrencies are the currency of the future. In the future people will use cryptocurrencies in place of physical currency.

 

Uncertain fluctuations are also seen in the prices of cryptocurrencies, due to which nothing can be said about whether the value of cryptocurrencies will increase or decrease in the future.

 

FAQ: Cryptocurrency FAQs

 

Is Cryptocurrency Legal in India?

Yes, cryptocurrency is completely legal in India. However, cryptocurrencies are considered illegal in many countries of the world. But right now it is completely legal in India, you can invest in cryptocurrencies.

 

When was cryptocurrency created?

The cryptocurrency was created in 2009 by a Japanese engineer named Satoshi Nakamoto.

 

How do trading in cryptocurrencies?

To trade in cryptocurrencies, first, you have to choose a platform and you have to do KYC by creating your account through Gmail ID. After this, you can trade in cryptocurrencies.

 

Which is the best cryptocurrency?

Bitcoin comes first in the list of best cryptocurrencies, whose prices have increased tremendously in the last few years.

 

Last words: what is a cryptocurrency 

 

In this article, we have given you complete information about Cryptocurrency Kya Hai so that you can learn about the basics of Cryptocurrency, if you are also thinking of investing in Cryptocurrency then this can be a good option for you. . Because many big industrialists of the world are also considering cryptocurrencies as the currency of the future.

 

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