User4672
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Day 1: What is Cryptocurrency?
Cryptocurrency is a type of digital or virtual money that uses cryptography to secure transactions. Unlike traditional currencies such as the US dollar or euro, cryptocurrencies are decentralized and often operate on blockchain technology—a distributed ledger enforced by a network of computers, called nodes.
Key Characteristics of Cryptocurrency:
Digital-Only: You can't hold it in your hand like cash.
Decentralized: Not controlled by any central authority (like a government or bank).
Secure and Private: Uses cryptographic techniques to protect your funds and identity.
Peer-to-Peer Transactions: You can send crypto directly to someone without a middleman.
Most Popular Cryptocurrencies:
Bitcoin (BTC) – The first and most well-known crypto, created in 2009.
Ethereum (ETH) – Known for smart contracts and decentralized apps.
Tether (USDT) – A stablecoin, pegged to the US dollar to reduce volatility.
Why Do People Use Crypto?
To invest and make profits (though it's risky).
To make fast, global transactions.
To participate in decentralized applications and finance (DeFi).
For privacy and control over their own money.
Cryptocurrency is a type of digital or virtual money that uses cryptography to secure transactions. Unlike traditional currencies such as the US dollar or euro, cryptocurrencies are decentralized and often operate on blockchain technology—a distributed ledger enforced by a network of computers, called nodes.
Key Characteristics of Cryptocurrency:
Digital-Only: You can't hold it in your hand like cash.
Decentralized: Not controlled by any central authority (like a government or bank).
Secure and Private: Uses cryptographic techniques to protect your funds and identity.
Peer-to-Peer Transactions: You can send crypto directly to someone without a middleman.
Most Popular Cryptocurrencies:
Bitcoin (BTC) – The first and most well-known crypto, created in 2009.
Ethereum (ETH) – Known for smart contracts and decentralized apps.
Tether (USDT) – A stablecoin, pegged to the US dollar to reduce volatility.
Why Do People Use Crypto?
To invest and make profits (though it's risky).
To make fast, global transactions.
To participate in decentralized applications and finance (DeFi).
For privacy and control over their own money.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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