What is cryptocurrency?

Cryptocurrency is a decentralized form of payment that runs in a blockchain. Unlike the old payment system this form of money do not need a centralized authority to keep it in check. Blockchain technology ensures the payments are secure and that every transaction is valid. "Crypto is cash with wings." This means that these digital currencies are borderless and you can easily transact with people all over the world in a matter of seconds.

The first cryptocurrency to be created was Bitcoin in 2009. Many other cryptocurrencies have come up since then, which include Ethereum, Dogecoin, Cardano, Solana, etc. Since the early days of Bitcoin cryptocurrencies have faced a lot of resistance from government and banking institutions. Despite this they still continue to grow and attract a huge community of users.

Due to Bitcoins growth from less than a dollar to more than $60,000, people now believe in crypto and have started investing in it. Crypto is very volatile and the price can fluctuate by large figures within a day, weeks or months. It is then important to take crypto seriously and not as a get rich overnight scheme.

It is estimated that less than 5% of the world global population own cryptocurrencies. This means we're still very early and in the next 10 years we could be at 20% adoption. What's accelerating this is the use of blockchain in fields like medicine, finance, business and education sector.

In order to buy cryptocurrency you need to open an account with exchange sites like Binance, gate.io, Kucoin, etc. From here you need to deposit money in fiat which is then converted to stable coins and then you can buy the cryptocurrency you would like to. You can choose to transfer these cryptos to wallets and cold storages.

Do your own research before deciding on which crypto to buy or seek an expert whom you can trust. Just like in any other investment, you can easily lose money in crypto too, so invest wisely.

Fell free to ask any questions. Happy trading😊