As of 2020, the number of active cryptocurrency users was estimated to be between 2.9 to 5.8 million worldwide. Despite the huge figure, many people are still perplexed when they hear or encounter terms related to crypto.
Since the dawn of civilisation, men have involved themselves in different systems of trading; there was the barter system where instead of money, people traded their services for goods and vice versa. There is also the more common banknote or paper money that people use to get their hands on goods with equivalent value as their cash.
In the modern age, men have evolved and entered a new era where everything is run by digital machines or devices. Today, trading can be done with a swipe of a finger.
For starters, cryptocurrency is a digital currency that can be used to avail different sets of goods and services through the help of an online ledger with strong cryptography to secure online transactions. You can think of them as you would casino chips or arcade tokens that you can eventually trade for other products.
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As of this writing, there are more than 4,000 cryptocurrencies available; some popular ones are Bitcoin, Litecoin, Ethereum, and Dogecoin. In this article, we will discuss and differentiate these four currencies for you.
BITCOIN (BTC)
Perhaps the cryptocurrency that people hear the most is Bitcoin, Launched in 2009, this digital currency was put up by an unknown person (or group of people) under the moniker Satoshi Nakamoto.
Bitcoin promises its users a secured online currency without the need of any central authority, unlike other government-issued currencies.
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