Cryptocurrency broadly can be defined as the digital money whichtakes the form of coins or tokens. Few cryptocurrencies have ventured into thephysical world through credit cards or some projects, but most of thecryptocurrencies are intangible.
The word crypto in cryptocurrencies refer to as complex cryptography which allows a particular coin to be generated, stored and securely transacted and these transactions are typically anonymous.
The important crypto feature to the currencies is that its common commitment to decentralization. These cryptocurrencies are developed as a code by teams and go through a process called mining.
They are particularly designed to be free from manipulations, control and government. The currencies which are modelled after Bitcoin which is the most promising one are called as Altcoins. The Altcoins can be presented as the modified and improved versions of Bitcoin.
There are around 2000+ cryptocurrencies in existence at present and many of these tokens and coins are enjoying immense popularity with a dedicated group of investors and backers. The cryptocurrency investors, buyers and miners are also equally increasing in number with each passing day.
These cryptocurrencies have been around for a decade now and aremaking attempts to create a decentralized currency since quite a long time. Thebanking crisis of 2008 has made the cryptocurrencies in need which had adecentralized banking system where money transfer was cheaper and also faster.
These cryptocurrencies can be bought through many ways such as usingthe cryptocurrency exchanges, crypto wallets, Bitcoin ATMs and Face to faceinteractions.
Check out the following infographic on 33 Cryptocurrencies Described in Four Words or Less, this infographic is developed by our friends at winbtc.org.
