Crypto best explained in 5 minutes!

Still wondering what crypto is?

Best explained in 5 minutes! Let’s dive in.

Crypto is the short from of crypto currency. It is a method of using inscription and description to secure the stored data from a third party.

 Now, what is crypto currency? 

Crypto currency is a virtual (sight related) or digital assets or money which works on a Blockchain Technology and is designed to work as a medium of exchange to buy, sell and make payments. Crypto currency was first introduced to the world in 2013 by Satoshi Nakamoto.

This currency is decentralized and not owned by a specific government or central authority. It cannot be held down or controlled by a specific bank. You see? – Crypto best explained in 5 minutes with clear definition.

Why is it so special?

1. Crypto transaction never fails while bank transaction fails most times, causing hindrances and trouble with funds.

2. Crypto has no limit of transaction for the day or whatever. Whereas, Banks will always hinder their customers from withdrawing or spending more than their given amount per day.

3. Through the use of a Blockchain, your crypto currency and wallet is safe and cannot be tempered with. Meanwhile, thieves break into banks and cyber criminals get to hack your bank account.

With this, what have you learnt about crypto currency?