10 Facts About Cryptocurrency

1.

Cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.

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2.

Cryptocurrency is produced by an entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly stated.

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3.

Cryptocurrency wallet is a means of storing the public and private "keys" or seed which can be used to receive or spend the cryptocurrency.

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4.

Cryptocurrency exchanges allow customers to trade cryptocurrencies for other assets, such as conventional fiat money, or to trade between different digital currencies.

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5.

Cryptocurrency prices are much more volatile than established financial assets such as stocks.

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6.

Cryptocurrency mooted regulating the cryptocurrency market rather than completely banning it.

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7.

Cryptocurrency favoured following IMF and FATF guidelines in this regard.

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8.

Cryptocurrency makes legal enforcement against extremist groups more complicated, which consequently strengthens them.

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9.

Cryptocurrency used in dark markets are not clearly or legally classified in almost all parts of the world.

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10.

Cryptocurrency transactions are normally irreversible after a number of blocks confirm the transaction.

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