What is Crypto?
Crypto is a digital asset that is based on the blockchain technology.
It started in the year 2008 with bitcoin as the first cryptocurrency.
A Cryptocurrency is a form of currency that exists digitally or virtually. It doesn’t have a central authority, instead using a decentralized system to record transactions and issue new units.
Examples of some cryptocurrencies:
•Bitcoin ($BTC)
•Ethereum ($ETH)
•Solana ($SOL)
•Litecoin ($LTC)
•Ripple ($XRP)
•Fantom ($FTM)
•Cardano ($ADA)
•Tron ($TRX)
The History of Bitcoin; The First Cryptocurrency
In the history of bitcoin, it was first introduced in 2008 as a decentralized currency without the need for a central bank or any intermediaries. It can be sent to and from users via the bitcoin network, a peer-to-peer network in which transactions are authenticated by nodes and recorded on a blockchain.
In 2009, bitcoin was first used after it was released as open-source software, when Satoshi Nakamoto mined the starting block of the blockchain. This is referred to as the Genesis Block, and it contained the first 50 bitcoins ever created.
From there on, bitcoin continued to be mined by other early contributors until 2010. That was when programmer Laszlo Hanyecz made the first known commercial transaction using the cryptocurrency through the purchase of two Papa John’s Pizzas for 10,000 bitcoin.
Since then, bitcoin has been traded hundreds of millions of times with the earliest major transactions occurring in black markets.
Why was cryptocurrency created?
Cryptocurrency was created as a fast and easy way for people to engage in financial transactions without exclusively relying on banks or governments.
It is a digital currency that allows you the freedom to make transactions at any time and with anyone, anywhere around the world with limited restrictions.
This was the initial purpose of why cryptocurrency was created, but currently it has been innovated and developed with alot of good income opportunities to help people around the world earn money online through crypto.
Crypto is a good and profitable online opportunity for you, only if you get the right knowledge and information. You need to know how it works before you can actually gain from it.
It is also important that you should be aware that investing your money in the cryptocurrency market is very risky, especially if you want to be involve in trading. The cryptocurrency market is volatile and uncertain; the price of any cryptocurrency changes at any time, it can either increase or decrease in value. We are advised to always be careful and apply proper risk management when investing or trading on the cryptocurrency market.
