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Thursday, February 15, 2018

What is cryptocurrency?

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A cryptocurrency is a digital currency created and stored electronically in blockchains.

   It uses encryption techniques to control creation of monetary units and to verify the transfer of funds. Hence it is very secure.

It has no physical form and is not redeemable in another commodity like gold.  
  
   Its supply is not determined by any central bank or authority and the network is completely decentralised.

Bitcoin, Litecoin, Namecoin and PPcoin are examples of cryptocurrencies.  

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1 comment:

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    Havells India
    Axis Bank
    Nestle India

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Mutual Fund Application Forms Download Any Applications
Invest in Tax Saving Mutual Funds Invest Online
Infrastructure Bond Application Forms Download Applications

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