#CryptoFees101

What is Cryptocurrency?

Cryptocurrency is a digital or virtual form of money that uses cryptography (a method of secure communication) for security. Unlike traditional currencies issued by governments (like the Dollar or Rupee), cryptocurrencies are decentralized and are not controlled by any central authority like a bank or government.

Key Features of Cryptocurrency:

Decentralized: Managed by a network of computers (blockchain), not a central authority.

Secure: Uses advanced cryptography to keep transactions safe.

Digital Only: Exists only in digital form; there are no physical coins or notes.

Fast Transactions: Can be sent and received worldwide within minutes.

Limited Supply: Many cryptocurrencies, like Bitcoin, have a fixed supply, making them resistant to inflation.

Examples of Popular Cryptocurrencies:

Bitcoin (BTC)

Ethereum (ETH)

Binance Coin (BNB)

Solana (SOL)

Ripple (XRP)

Use Cases:

Online payments

Investment and trading

Smart contracts (for automating agreements)

Cross-border money transfers