What is Crypto Currency?
CryptoCurrency such as Bitcoin and Ethereum are a medium of exchange, such as the US dollar, but are digital and use encryption techniques to control the creation of monetary units and to verify the transfer of funds.
CryptoCurrency is based off of a new technology called Blockchain Technology. Blockchain is, simply put, a digital, decentralized ledger that keeps a record of all transactions that take place across a peer-to-peer network. The major innovation is that the technology allows market participants to transfer assets across the Internet without the need for a centralized third party, and IT’S TOTALLY SAFE AND SECURE.
Unlike traditional payment option, like credit cards and eWallets, Bitcoins have proven to be the safest and most secure payment methods online. See, while scammers have found a way of hacking and getting some of the information on the ‘traditional’ payment options, Bitcoins have proven to be very difficult. This is because they use a modernized encryption technology that keeps all your personal information safe.