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What are

Cryptocurrency is a digital (virtual) currency with a unit usually called “coin.” The coin is forgery-proof since it is nothing but highly encrypted data that is unlikely to be copied. Beginner traders are still wondering how digital cryptocurrency differs from ordinary money in soft form. In order to have money on the account in the electronic form, it should be physically deposited first, for example, via a bank or payment terminal. This means that being electronic is only one of the forms of presentation. Cryptocurrency is emitted directly in the network with no relation to any other currency or any state currency system. Consequently, when answering the question about the cryptocurrency, it can be defined as “digital money” in simple phrase.

Everybody who has computer equipment with the set capacity, as well as specific software, can mine it in the network (deal with so-called “mining”). Computational capabilities solve algorithmic problems experiencing complexity that keeps rising in the course of mining. After solving the problem, they mine a coin – the number of encrypted data. Blockchain (kind of profile) is the coin existence proof in the network. This cryptocurrency is stored decentralized and spread out among electronic crypto-wallets of users.



Banks, companies or governments do not regulate cryptocurrency emission, exchange rate, and other characteristics. It is the money for people only affected by people.



Cryptocurrencies have expanded to our lives more and more. The number of stores, websites and other services that approve cryptocurrency for payment increases further. Day by day our lives are entwined with digital currencies more and more, and there is no point in denying it. It only takes accepting this fact for granted and turning it to your favour.



Cryptocurrency transactions are impossible to be tracked. It is unlikely to identify a person who sends or receives Bitcoin or any other cryptocurrency transfer.

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