Everything you want to know about cryptocurrency
October 2024
Inspired by Nour Zawa – You hear a lot about Bitcoin and other digital currencies, but you are unaware of the meaning of all this and how to trade with these currencies. This post is directed to you then.
In light of the tremendous speed that the world knows and amid the huge recent developments, the term trading or investing in cryptocurrencies, or the word 'Bitcoin' has recently come to your ears.
But you are unaware of what it is? Or what its purpose is? And you would like to know more details about it and how it is used?
So dear reader, this post is directed to you..
So what is cryptocurrency?
Cryptocurrency is an electronic currency designed to be exchanged between people in virtual transactions, and it exists in the form of data so that it cannot be held in your hands or in your safe.
Digital currencies or cryptocurrency also enable you to purchase goods and services online using a secure digital ledger on the internet to ensure and protect financial transactions online.
And now that we have learned about cryptocurrency, let us together explore its most famous types starting with:
1- Bitcoin:
This currency leads the entire world of digital currencies, and it was originally intended that no additional bitcoins would be produced at its inception, with a maximum production limit set at 21 million bitcoins only upon its launch, making its price: (1 dollar for 1,309 bitcoins). Following this, the currency experienced significant growth, reaching its highest ever price in 2017 at (19,783.21 dollars), and naturally, this was a significant event for 'Satoshi Nakamoto', the founder of Bitcoin.