What is cryptocurrency? A cryptocurrency is an encrypted data string that denotes a unit of currency. It is monitored and organized by a pee...
What is cryptocurrency?
A cryptocurrency is an encrypted data string that denotes a unit of currency. It is monitored and organized by a peer-to-peer network called a blockchain, which also serves as a secure ledger of transactions, e.g., buying, selling, and transferring. Unlike physical money, cryptocurrencies are decentralized, which means they are not issued by governments or other financial institutions.
Bitcoin, Ether, Litecoin, and Monero are popular cryptocurrencies
Crypto makes it possible to transfer value online without the need for a middleman like a bank or payment processor, allowing value to transfer globally, near-instantly, 24/7, for low fees.
A cryptocurrency blockchain is similar to a bank’s balance sheet or ledger. Each currency has its own blockchain, which is an ongoing, constantly re-verified record of every single transaction ever made using that currency.Unlike a bank’s ledger, a crypto blockchain is distributed across participants of the digital currency’s entire network
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The decentralized finance (DeFi) platforms give you the power to earn money like a bank by participating directly in a lending process. Here, users connect their cryptocurrency wallets and commit coins and tokens to a pool with others. That pool is then used to lend to others for interest and fees. The users earn income from the lending process, with the facilitator often taking a portion as a fee. The amount earned from lending crypto depends on three factors: the duration of the loan, the amount of the loan, and the interest rate.
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Now also, In today's modern world investment in cryptocurriencies is increasing very rapidly. Crypto as a medium of earning is helping people to earn money by understanding crypto market. Hence, crypto is good medium for earning
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