What is cryptocurrency and all kinds of information about crypto & cryptocurrency

Friends cryptocurrency is a type of digital currency. You cannot catch this currency. Cryptocurrency is strictly limited to online. Therefore, cryptocurrency is not a physical entity. All types of cryptocurrency transactions exist online. All cryptocurrency coins you need to sell and buy online. You can only view cryptocurrency in virtual form. This cryptocurrency does not have any kind of central community control. Each cryptocurrency coin is made through some mathematical computing. To know about cryptocurrency we need to know from the beginning More details about cryptocurrency are given below.

How To Come Cryptocurrency 

Many years ago, when money was not made, do you know how to buy and sell in the market? At that time, if someone lived selling tomatoes in the market if the tomato seller needed rice, dal, or oil, then he would buy rice, dal, or oil from someone along with tomatoes. Various goods were exchanged with each other. This exchange system had many advantages as well as disadvantages. The main two problems in this exchange were that if a tomato seller needed oil, the person he wanted to buy oil with tomatoes did not need tomatoes. Then that person could not take oil instead of tomatoes. As a result, it was not possible to determine the exact price of daily necessities such as oil, potatoes, etc. To solve this problem some people meet and make coins out of gold. And gold coins are used to buy and sell goods. In return, this method is called the Mudra method.

This currency system also has many problems. These coins are made of gold. So carrying these gold coins to different places was very risky. And gold was not available in sufficient quantities to mint new coins. To solve this problem again people get together and come up with solutions. Then some people decided to keep all the gold coins together. And create paper money and start all kinds of exchange through paper money. Then transactions with paper money started and all problems were solved.

After a few days, it was seen that paper money was being used for transactions in certain places. But it cannot be used everywhere. Because different types of paper money are being made and used in different places. As a result, all types of paper money cannot be used everywhere.

Some people gave a shop to solve this problem. Where all types of money can be exchanged for one another and used everywhere. Then another problem was solved in dealing with paper money. In this way, new businesses are created by solving new problems.

Then a person saw that the price of goods and the price of money were different in different places. From here a person makes sense, and that person tries to make people think that the price of money in another place is lower than the price of money in our market. But there is potential for improvement in that area over time. If the people in that place improve themselves, then the price of their money can increase several times compared to the price of money in our place. Then that person tells the people to keep some of the money from the place where the price of money is lower than ours. When the price of money of that place will increase several times than the price of our money, then the money of that place can be sold and profited. This idea is liked by all the people of that place and many people start investing in this type of business. Since then the money business started.

This money business would not have started if that person had not given such a beautiful idea. As a result, there is no impact on the product. But depending on the market the price of the product goes up and down. This price is now controlled by paper money and paper money is controlled by people like you and me. The price of all the products in the market is handled by a few limited people who created the transaction system and money business in this paper money.

Now understand how the price of money is managed. Instantly those who had deposited all the gold themselves and paid for the paper money thought to release some more money in the market. And they will not deposit any gold coins to release this money. The amount of money that existed previously released in the market lived stored in the market. When some new money was made and released in the market, the cost of the by-product increased in demand. In this way, the price of the product increases. And the rise in the prices of these products is called inflation.

Now those who deposited the gold coins themselves and arranged the lanes to create money in the market and those who figured out the business of money are called banks. Banks currently control all forms of money in the market.

The currency and money that this bank creates and releases in the market as a medium of exchange is called currency. The money that was first released in the market after keeping the gold coins in reserve is called backup money or standard of gold. Later, the money created for free without any backup and released into the market is called fiat currency which we are all using today. The method of exchanging these currencies with one another is called foreign exchange. And the new money business that was started through which money can be traded is called forex trading. All this money trade and exchange and control of everything related to money is with the bank.

After a few days when people found carrying paper money to be too risky, banks started a new medium of exchange called digital currency. Digital currencies are various online wallets, credit cards, debit cards, master cards, etc. Whatever kind of benefits we want from the bank, the bank provides those benefits to the people. But the question is how the banker is profiting. The banker's profit is the commission. When you transfer money from one bank to another bank you have to pay some amount of commission. You will have to pay a commission to change your money from one currency to another currency. The commission will be paid to trade. The banker's profit is based on your money and their profit on the commission or charges we pay. But the banker has no investment of his own. Banks thrive on people's money. Also, banks, insurance companies, stock markets, exchange houses, trading corporations, real estate, brokerage companies, and settlement companies, many other organizations have developed and profited by using people's money as their investment.

Friends, if the bank says that your money will not work from tomorrow, then your money will become a piece of paper and it will not be of any use. This money will have no value. Now suppose if this money was made of gold then this money would have value.

Now consider why we value gold or how the value of a commodity is created. We buy any product at a low price and use it at a higher price. There is a reason behind these prices being low and high. When the supply of a product increases in the market, the price of that product decreases. That is, the price of a product depends on supply and demand. And the lower the supply and the higher the demand, the higher the price. And when the supply of a product is limited, the price of that product becomes several times higher. Similarly, the supply of gold is limited but the demand for this gold is very high. As a result, the price of gold keeps increasing. And the price of this gold will always rise unless it is replaced by some other means. A thing that has value which is secure and can be kept for the future is called money. And the medium of payment is called currency. Both money and currency are different mediums.

Now friends when barter was customary there were many benefits for us. The seller was free to set the price of his product himself. The seller kept the goods in his possession which resulted in the security of the goods. Since the buyer and the seller could exchange their goods, there was no difference between them. And when there was no medium of exchange we didn't have to pay any commission or fee. And when banks created money as a medium of exchange, we lost our freedom. We lost security. There was a difference between us. We have to pay commissions for various services.

Journey By Cryptocurrency

Now Satoshi was created to solve this problem. Another digital medium of exchange has been created. Where cryptography will provide security. And freedom is my money my currency. And the new name of this medium is cryptocurrency. Usually, when we go to deposit money in the bank, there are two problems at first glance, one is that my money will be with me, so why should I keep it in the bank? And the second is where is my security in the way the bank is keeping the money accounts. Banks used to keep every customer's money in the ledger. The modified bank now stores each customer's information in a database through computers. Where every data can be seen by bankers and customers can see by giving access to the customer. And a hacker can also hack the data if he wants. They mean customer information is not secure. The solution to this problem is cryptocurrency. Where you can keep your own money and monitor all transactions yourself. Lagbe is a private key to store your money in cryptocurrency. When you open the wallet you will get this private key from that wallet and the public key will be required to monitor the transaction.

When you create an account on Facebook, your information is stored in Facebook's database as your name, email, and password. Now how many codes will show on the password we have given on Facebook? Since the password is a secure thing it cannot be kept openly in the Facebook database. For this reason, Facebook hides the passwords of its customers using different codes. This system of hiding the data is called encryption. This encryption is done through cryptography.

An app through which digital money is transacted is called a digital wallet. There are many digital apps online through which transactions are done. Suppose we create a wallet through which we will transact cryptocurrency. When transactions are done in digital currency, transactions are done openly. But when you transact through a crypto wallet, every transaction information will be transacted through encryption. As a result, if someone hacks the transaction information of the crypto wallet, they will not be able to see what information it contains. Friends, when you transact or store money through a crypto wallet, you have full control, but when you transact with digital money, the bank has full control over that information. That means you are not in control of your transactions and holdings through the Digital Money app.

Cryptocurrency offers maximum security to protect an individual's information and money. In cryptocurrency, a person can make his transactions while maintaining his privacy. With Cryptocurrency you will enjoy all types of transactions freely and securely. Cryptocurrency keeps your information completely private. A complete cryptocurrency binds itself to certain rules. Cryptocurrencies operate on fully virtual systems. Cryptocurrency gives customers the freedom to transact on their own while keeping the customer's complete information private. Cryptocurrency will store customer information in their database through strict security. Cryptocurrency will keep customer information in a decentralized manner. Customers can see their information in cryptocurrency and keep it safe. No one else can see your information. Cryptocurrency is completely under the control of the customer. Cryptocurrency is not controlled by any specific person. Cryptocurrency is completely under the control of the customer.

Now the question is what is meant by control, there are many things in control, and I will highlight some of them. Control means who will decide what amount of money will be released in the market who will decide where the money will be and who will decide how the fee will be deducted. The person who makes these decisions is called the controller. Currently, the bank is taking full decision on our money. That is why banks are regulators.

Now the question is how cryptocurrency is regulated. Cryptocurrencies are governed by a consensus algorithm on the blockchain. A key point of this consensus algorithm is that each user will have one vote and the decision taken by all users will be the final decision. This means that if you are a user, you can make your own money decisions. That's why you are in full control of it. For example, if you don't keep the money in the bank, the money will be with you and in your mobile wallet. You control how much money you leave in the market. It relies on mining and it relies on transactions and that is blockchain. Cryptocurrency transaction fees are determined by you. If you want, you can specify the transaction fee that will be charged for the transaction while doing cryptocurrency transactions. And you can transact without any charges. But transactions without charge take some time to complete. You are in control of how much the fee will be reduced in Cryptocurrency. Every customer is the controller of cryptocurrency.

When you trade and deposit in cryptocurrencies you are completely independent. Your money stays with you and thus you get security. There is no difference between them. Cryptocurrencies are created to provide these freedoms to people.

Hope you understand what cryptocurrency is how cryptocurrency came about and how cryptocurrency works.

Every customer in a cryptocurrency owns the cryptocurrency. Therefore, any customer can create cryptocurrency. To create a cryptocurrency you need two things. One is blockchain and the other is applications. To generate cryptocurrency you need to create a web page. To create web pages and design web pages you need to know coding and know HTML and CSS. Did you know Facebook is designed with HTML and CSS? After designing the web you need to know the programming language to use every sector of it. And those who know this kind of programming language are called web developers. There are many different programming languages such as Java, Python, PHP, and many more. Now you need to build a blockchain and develop an application to generate cryptocurrency. If you know your programming language, you can create cryptocurrency. At first, you can create a cryptocurrency if you don't know any programming language. Because every cryptocurrency coding is open source and free which you can download from GitHub.

Suppose Pani created a cryptocurrency coin but this coin has no value in the market. To make the value of the coin, this coin has to be presented to different people, and to sell the coin, it has to be given an idea about what these coins can be used for, and marketing has to be done to make people invest. The value of the coin will completely depend on the usage, demand, and supply of this coin. The better the investment of the coin, the better the funding, the more valuable the coin will be. Thus a new cryptocurrency enters the market. Hope you got the idea of Cryptocurrency from start to finish. But we haven't introduced Bitcoin to you in this huge discussion of cryptocurrency. Because many people think cryptocurrency means Bitcoin. This idea is completely wrong. Bitcoin is just a coin like other cryptocurrencies. There are thousands of other such cryptocurrency coins in the market such as Litecoin, Ethereum, BNB, etc.

Now it is being talked about that many people are becoming big by trading in this cryptocurrency and how to do it. If you have to do cryptocurrency trading then you need some crypto coins where to get these crypto coins. First, you will have a cryptocurrency account called a wallet. You need to create an account in such a wallet. There are lots of crypto wallet applications in the market like Coinbase, Binance Trust Wallet, etc. There are many crypto wallets. Creating a wallet is done but now you need some crypto coins. You will buy these coins from different people in exchange for goods or money. Now you got the coins but how do you do the trading? We all know that the value of cryptocurrency coins is always rising. Likewise, you will find a good coin by doing market research and the coin may move at a good price in the future. Buy that coin now at a low price and sell it when the price of the coin increases. This is exactly how trading is done. It is better not to go into any kind of investment without knowing about trading. Risks are more likely than trading gains. Now where do you do this trading? There are many different exchanges for trading where you open an account and then you can start trading.

Looking at the current development of cryptocurrencies, it is clear that cryptocurrencies will act as the largest medium of transactions shortly. I hope I have been able to present all the information about Cryptocurrency to you, Thanks.