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What is Cryptocurrency? This Explain For A Newbie

 In 2009, there was just one cryptocurrency – Bitcoin. Invented by the legendary Satoshi Nakamoto, it wasn’t just a shot in the dark; it was the start of something far greater than anyone could’ve ever imagined. Fast forward to 2020, and now there are more than 1600 cryptocurrencies in existence and counting. From the revolutionary coins like Bitcoin and Ether to joke currencies like Dogecoin, several projects have cropped up, utilizing blockchain technology to create a massive industry.


It’s a tradable digital asset or a digital form of currency based on the acclaimed blockchain technology. A blockchain is a public ledger distributed among every computer in a crypto-network. It uses cryptography to verify and secure transactions on the network, and the distributed nature of the currency ensures that the asset is not controlled by a central authority, unlike fiat currencies which are controlled by banks and governments.


Even with the huge number of cryptocurrencies out there, there are quite a few that are more important and way more popular than the rest. The grid below lists all the top cryptos in the world. Clicking on any of them takes you to page with relevant information and the corresponding cryptocurrency prices.


People often ask, “Can we buy cryptocurrency?” or “How do I get cryptocurrency?” Over time, the process of obtaining cryptocurrency has become simpler and simpler. Before you buy or trade crypto, update yourself with the latest cryptocurrency news, including trends, analysis, and prices. Depending on where you stay, you can buy cryptocurrency on exchanges using credit cards, bank transfers or in some cases, even cash.

Before you start buying crypto, you need to get yourself a cryptocurrency wallet. A cryptocurrency exchange like Coinbase provides a free wallet of its own which you can use to buy, sell, and trade crypto. Make sure you do your research before choosing the right exchange.

Another, more expensive way of obtaining crypto is cryptocurrency mining, which involves using high-end hardware to verify transactions on the blockchain network and earning crypto-rewards. However, if this seems beyond you, there’s a much, much easier way of obtaining crypto, commonly known as a “faucet”.

A Bitcoin faucet is a website that gives away free bitcoin in exchange for solving a simple captcha. The objective of such a website is to promote the usage and adoption of cryptocurrency. Sign up to crypto faucets and get started with cryptocurrencies for free.


The cryptocurrency market is highly volatile. Take Bitcoin’s case: It has gone from $0.01 to a peak of $20,000 and back again to $3,000 before rising beyond (current) $7,500 in recent weeks. By the time you read this, it might have gone several thousand dollars upwards or downwards.

Many people ask this question, “Should I invest in cryptocurrency?” Most of them do because they see bitcoin and other altcoins rising in value exponentially and fear they missed out. But that’s never the case, reasons being the volatility of the markets and the technology’s extremely high potential to change how money works all over the world. Investing in crypto involves doing your research, evaluating the right time to buy the right coin, holding them (or ‘hodl’ing them, as is known in the crypto space) and treating them as you would investments in shares and stocks.

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