ALL ABOUT CRYPTO CURRENCY

WHAT IS CRYPTO? 

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Crypto currency, also known as digital currency, is a virtual or digital asset that is used as a medium of exchange. It is decentralized, meaning it is not controlled by a central authority like traditional currency, such as the US dollar or Euro. Instead, it is secured by cryptography, which makes it almost impossible to counterfeit or double-spend. In recent years, crypto currency has gained popularity as a new form of investment and a means of payment for goods and services. 

HOW CRYPTO CURRENCY WORKS?

Crypto currency works on a technology called Blockchain. Blockchain stores information electronically in digital format. Each transaction is recorded as a block and added to the chain, creating a permanent record of the transaction that cannot be changed or deleted.

            crypto currency can be bought and sold through digital through digital exchanges, where buyer and seller can exchange one type of crypto currency with other type of crypto currency. it can also be exchanged with traditional currency, like INR, us dollars, euro, etc. 

             crypto currency is a digital currency that is stored in digital wallets, which are secured with private keys. These private keys are same as passwords that provide access to the wallet. 

  

EVERYTHING HAS SOME PROS AND CONS LET SEE IN CASE OF CRYPTOCURRENCY 

PROS                                                                                             CONS  

                                                                                          

- Cryptocurrency is not controlled                        - Cryptocurrency prices are highly 

  by a central authority, which make                        volatile, there value can fluctuate

  it less susceptible to government                          significantly in a short period of 

  manipulation                                                          time, making it a risky investm-

                                                                                 ent 

- cryptocurrency transactions are                        - crypto currency is not regulated 

  secured by cryptography, making                        by any central authority, making

  it almost impossible to double spend                   it difficult to protect investors

                                                                               from fraud 

                                                                                                   

- These transactions are anonymous                  - Its digital wallets are vulnerable

  and do not require personal identification,           to hacking and theft, which can 

  providing users with greater privacy.                    result in great financial loss

Conclusion: Crypto currency is a complex and evolving

 technology that has the potential to revolutionize the way we

 think about money and finance. While it has many

 advantages, it also comes with risks and uncertainties that

should not be overlooked. As with any investment, it is 

 important to do your research and understand the risks

 before investing in crypto currency. As the world continues to

 embrace new technologies, it will be interesting to see how

 crypto currency evolves and its impact on our financial

 systems.