What is Cryptocurrency?
A cryptocurrency (or crypto currency) is a medium of exchange using cryptography to secure the transactions and to control the creation of new units Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies. Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative.
Less Costly. More Secure. No third party needed. Trust the math. Digital currency started with Bitcoin and is a way to determine the authenticity of a transaction via consensus on a secure network. This removes two otherwise necessary middlemen – banks and government. Currencies are minted and authenticated by the network securely and publicly. As a result, no individual or group has more access to transaction data than another. This is all done at costs that are fractions of the current banking standard. Extremely low transaction fees No central point of failure No charge-backs No counterfeiting Controlled by consensus Virtually instant transactions No Third Party