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Cryptocurrencies are digital money, designed to be truly secure and sometimes anonymous. It is closely related to the Internet using cryptography, which is basically an activity where readable information is converted into program code that can not be decrypted to suppress all transfers and purchases made. 

Cryptography has a history dating back to World War II, when it was necessary to communicate in possibly the most secure way. Since then, an exactly identical development has taken place and has been digitized in our days where various elements in computer technology and the mathematical concept are increasingly used to ensure communication, information and security. 

How cryptocurrency works

The first cryptocurrency

The first cryptocurrency was introduced in 2009 and is still known all over the world. Many other cryptocurrencies have since their introduction in recent years, you can find so many available on the internet. 

How they work

This type of digital currency uses decentralized technology to allow various users to make secure payments and also save money without necessarily using a name or even going directly through a financial institution. They operate mainly on a blockchain. A blockchain is actually a publicly distributed ledger. 

Cryptocurrency units are often created using an activity called mining. This usually involves the use of computing power. Doing it this way solves math problems that can be quite complicated at the age of the coins. Users are only allowed to select currency from agents and then purchase them in encryption wallets where they can use them with excellent ease. 

Cryptocurrencies and the use of blockchain technology remain economically viable. Other uses may emerge later, as it is absolutely impossible to say what else will undoubtedly be invented. The continued future of trading stocks, bonds and other forms of financial assets can be traded in the future using cryptocurrency and blockchain technologies. 

Why use cryptocurrency?

One of the many features of currencies is the proven fact that they are generally secure and provide a good degree of anonymity that you may not get elsewhere. There is no way that a transaction can be canceled or tampered with. This is without a doubt the main reason why you should consider with them. 

The fees for this type of currency can also be quite low, making it an extremely reliable alternative compared to conventional currency. Since they have a decentralized character, they can be seen by everyone, unlike banking institutions where accounts are only opened with authorization. 

The cryptocurrency markets offer a new type of cash, and the benefits can sometimes be significant. You can make an extremely small investment and then discover that it delivers a great product in a very short amount of time. However, it is always important to remember that the market can also be volatile and that you may find risks associated with buying. 

There is a certain degree of anonymity associated with cryptocurrencies, and it is really a challenge as illegal activity can flourish here. Which means you have to be extra careful when choosing to buy. Make sure you get your cryptocurrency from the trusted source.