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11/13/2024 3:10:58 PM (GMT+1)

What is cryptocurrency: A complete guide

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Cryptocurrency is a digital form of money based on blockchain technology. Unlike traditional currencies such as dollars or euros, cryptocurrencies are not dependent on central banks and are not regulated by governments. This makes them attractive to users seeking anonymity and independence from financial institutions.

Each cryptocurrency uses cryptographic algorithms to secure transactions. The most well-known of them is Bitcoin, but there are many others, such as Ethereum, Litecoin, and many more. Cryptocurrencies allow for fast and cheap transfers without intermediaries, making them convenient for international transactions.

There are several ways to store cryptocurrency, including online wallets and hardware devices. Despite the growing popularity, cryptocurrencies remain volatile assets, and their value can fluctuate. Investing in them requires caution and an understanding of potential risks.


This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.



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