What is Crypto Currency?

What is Crypto Currency?

Ok, you know that there are different currencies in the world. Every country has different currencies. Crypto currency is another currency that has come up with such advanced technology. That means if we take an example, all the transactions done in dollars can be done with this crypto currency.

The most advantageous situation is that if you do this transaction with someone from another country in the world, you can complete this transaction in seconds. There are many ways to change it. For example, you know that you can keep dollars as coins or notes.  But this crypto currency cannot even be touched by hand. No one can see it; it’s like a separate block chain. But there is no one to control this crypto currency which means it is controlled, its price goes up and down between the demand and supply of this crypto currency.

THE STORY OF CRYPTO CURRENCY

If we take about the history of crypto currency, crypto currency first came to this world in 2008. In 2008, a person name d “Sathoshi Nakamoto” to first introduced bit coin to the world.

Here, when this bit coin first came to the world in 2008, this price was very low, this means even less than the dollar. The price of this bit coin is now $20,472.90. Moreover, this forward price changes from the to time.

02-11-2022 Time 2.59PM (SRILANKA TIME FORMAT)

As I mentioned earlier, the price of these changes based on supply and demand, which means the maximum number of bit coins that can be in this block chain is 21 crores

Of these 21 crores, only 18 crores of bit coins have entered the block chain so far. That means 3 crore more bit coin has to cane to this block chain. Messengers report that it will take another 100 years for the last bit coin to hit the world. it is impossible to imagine how value of this bit coin will change within these 100 years currently there are even bit coin exchange machines in countries like America.

For example, those guys can give the bit coins on their phone to the atm machine that exchanges them and get money from that ATM machine. If you like, can invest in these crypto currencies .but the price of these crypto currencies go up and down very quickly, so you have to be very careful.

That means there is a risk here when investing. you can avoid this risk after analyzing the market analyze and buy where it has fallen, then when it rises, you can definitely take profit.

 Ok, so far we have mostly talked about bit coin, but this bit coin is just one type of crypto currency. Thousands of crypto currencies like bit coin has came into the world by now. For example.

·         ETH (ETHEREUM)

·         BIT COIN

·         TRON

·         SOLONA

A lot of crypto currency has came in to the world by now. You know if we do bank deposit, fixed deposit or anything else, for example, it takes a long time to get 5% profit.

 But if you can keep investing in these crypto currencies like this, you can probably get % profit in one day. But you need to analyze the market properly a part from buying crypto currency here, there are ways we can earn them, for example we can buy crypto currency from airdrop and when can earn this crypto by mining.

You know that if we have a large amount of money in our bank account, we will be taxed by this government, but no matter how much crypto currencies you keep with you. You can keep it without any problem. You can keep everything without deduction .here is the many benefits you can get from this crypto currency. And no once knows how much money is in your account, nothing like this will be leaked.

At the beginning of this article we told you that we use this crypto currency to do any transaction. But there is no problem in keeping this crypto currency even if no transaciation is done .because others deal with this crypto currency. That means if the crypto currency you have is exchanged more with others, the demand for this crypto currency will increase .that means the price of your crypto currency will increase more and more. Simply put, this is the last way we get big profits from crypto currency.