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Cryptocurrency : Meaning, Types, Examples, Advantages And Disadvantages

Alot of you might have heard of the word cryto currency or crypto,as it is popularly know but might have little or no knowledge about it. well,you're in luck as this article is all about the basis of crypto

What is crypto currency? It is a digital or virtual currency secured by cryptography,making it nearly impossible to counterfeit or double- spend. Simply put,crypto is a type of currency which exists digitally and uses cryptography to secure transactions.

Types of crypto:there are different types which include security, utility,stable coins and payments. Others include Defi, tokens,NFT e.t.c.

Examples of crypto include Bitcoin(BTC),which is the most commonly known. Others include Ethereum(ETH),Zcash(ZEC) ,Bitcoin cash(BCH),and many more.

Advantages of crypto include;

* Protection from inflation

* Exchanges can easily be done

*It is decentralized

*It is secure and private

Disadvantages of crypto include:

* Risk of data loss

* Illegal transactions can be carried out

*No refunds are made

That's the end of the information about crypto for now. Share your thoughts and follow this page for more updates about crypto.

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