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In the financial transactions sphere, we have various modes of payment for goods and services. For example, we have PayPal, Amazon Pay, Apple Pay, cryptocurrency, etc.
Cryptocurrency is a relatively new system that people still try to figure out. There are currently over 2,000 types of cryptocurrency.
Cryptocurrency is a digital payment system that bypass banks to verify transactions, making the financial processes more accessible and faster.
Cryptocurrency involves using virtual tokens or coins by private individuals and companies for operational and transactional purposes and investments.
That’s right. If you thought it would be possible to buy an endless amount of crypto, think again. Cryptocurrency is a limited resource, like gold or oil. This is why currencies like bitcoin continue to increase in value as the supply goes down. Investors know that somewhere down the road, the number of bitcoins and alt currencies available will come to an end.
In the middle of the 2008 banking crisis, a group of anarchists, libertarians, and other tech-savvy true believers created digital cash.
In August 2008, bitcoin dot org was registered as a domain. On Halloween the same year, Satoshi Nakamoto put up a whitepaper describing a decentralised system of electronic transactions that did not involve a financial institution.
Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created to allow “online payments to be sent directly from one party to another without going through a financial institution.”
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