cryptocurrency (or crypto currency) is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.

Cryptocurrency is more than just a bunch of digital numbers that people have decided to use as money. The technology that was brought forth by Bitcoin is essentially a decentralized public ledger system, known as the Blockchain. This cryptographic Blockchain technology is what makes Bitcoin  a “cryptocurrency.”

Wouldn’t be great to be a part of the fully decentralized system, where there is no banks that can print billions and billions of new currency and devaluate your hard earned money?

Wouldn’t be great to send funds around the world within minutes virtually with no fees? And there is no one who can revert the payment, no one who can tell you that you can’t do it.

Wouldn’t be great that your money is your business and that nobody would know how much you have and what you are doing with it. There is no one who can take your hard earned money or track it – truly anonymous system.

Those were thoughts in Satoshi Nakamostos head when he designed Bitcoin. While Bitcoin was something revolutionary, he never imagined in million years where this will lead us. Soon after the release, the industry literally exploded. Now we have more than 700 different coins, every one with it’s own story and it’s own solutions to problems that Bitcoin had. 

Source: https://www.weusecoins.com/

Source: Coinspace Ltd