top of page

What is cryptocurrencies?

Updated: Oct 8

Cryptocurrencies are basically digital or virtual currencies that can be used for transactions between individuals, businesses or institutions. They are many different cryptocurrencies with Bitcoin being the most well-known.

An assortment of digital currencies
What is Cryptocurrencies?

Cryptocurrencies are usually decentralised meaning they are not controlled by any central authority or institution.

Some Key features of crypto

  1. Blockchain Technology: Most cryptocurrencies use blockchain technology which can provide a ledger of all transactions. Powered by a network of computers (nodes) that also provides security to the network.

  2. Digital wallets: Cryptocurrencies are held in digital wallets that can either be a software application or a hard device.

  3. Pseudonymity: Users' identity is usually anonymous and not tied to their real-life identity.

  4. Limited supply: Many of the cryptocurrencies out there today have a maximum supply.

#123pestblog #wxnetwork

1 comment

Recent Posts

See All
bottom of page