What is Cryptocurrency? | How to Buy Cryptocurrency In 2021?

In today's article we are going to tell about Cryptocurrency.  What is Cryptocurrency? At this time cryptocurrency is in a lot of discussion. You must have heard about cryptocurrency from somewhere. The prices of cryptocurrencies are touching this sky.

You will be surprised to know that the price of 1 bitcoin is currently 25 lakh 56 thousand rupees. Not long ago, its price was more than 47 lakhs. But with only one tweet from Tesla company owner Elon Musk, its price has come down to Rs 25 lakh 56 thousand.

Still, the cost of a bitcoin is 25 lakh rupees. Those people who invested in cryptocurrencies 3-4 years ago , today they are the owners of lakhs and crores of rupees. So you can imagine that how much profit has been made by investing in cryptocurrencies.

Digital currency is called cryptocurrency. Which we can see but cannot touch physically. Now this question must be coming in the mind of many people that what is cryptocurrency after all? How does cryptocurrency work? Is it right to invest in cryptocurrencies? On which platform to invest cryptocurrency?

In today's article, I am going to give you complete information about cryptocurrency.

What is Cryptocurrency?

Waht is Cryptocurrency?

Cryptocurrency is a digital currency. Which has no physical existence. It is made with the currency coding. We can also call it virtual currency. Which can neither be seen in real nor cannot be touched.

This Cryptocurrency works on computer algorithm. Cryptocurrency is created with computer. Cryptocurrency works on black chain technology. The transaction of this currency is done through computer only.

It is completely computer based coding. And it is made by the computer itself. The security of this currency is very strong. It is a difficult task for hack it.

Cryptocurrency is the currency of which country?

You will be surprised to know that Cryptocurrency is not the currency of any country. As the currency of Pakistan/India is Rupee. And America's country's currency is American Dollar.

And the currency of Saudi country is Rial. But Cryptocurrency is not the currency of any country. Because it has no physical existence. This is not real currency. It is a digital currency.

And no rule of the government of any country is allowed on this. Meaning that this currency does not come under any country. And if there is any fraud with you, then you cannot do any case against this currency even if you want.

How does Cryptocurrency work?

CryptoCurrencies

As I have told you above that cryptocurrency works on black chain technology . We send any cryptocurrency from one computer to another with the help of black chain only.

All your transactions are recorded in black chain technology. Due to which the rate of data loss is very less. Due to this, the chances of fraud in it are very high.

Powerful computers are needed to manage this. And with the help of the same computer, the entire cryptocurrency is monitored. This is called cryptocurrency mining.

Whoever first sends crypto from one computer to another or completes the coding of crypto first, then he is given some cryptocoin as a reward.

How many types of Cryptocurrency are there?

By May 2021, there are more than 10,000 types of Cryptocurrency available all over the internet. And By 2020, up to 50 million people used cryptocurrencies.

In today's article, I will tell you about some of the top cryptocurrencies in short. If you want, you can also read their detail article.

1. Bitcoin (BTC)
2. Litecoin
3. Ehtereum
4. Ripple
5. Dogecoin
6. Binance Coin
7. Cardano
8. Tether
9. XRP
10. USDC
11. DOT
12. Solana
13. Binance USD
14. Tron
15. Stellar

These are some popular types of cryptocurrency.

Which is the cheapest Cryptocurrency?

Many people search about the cheapest cryptocurrencies. There is also such a cheap currency. It is so affordable that you will be surprised to know. Cheapest cryptocurrency in 2021 is

– Moving Cloud Coin (MCC) = 0$
– IDEX Membership (IDXM) = 0$
– JET8 (J8T) = 0$
– Maveick Chain (MVC) = 0$
– Braziliex Token (BRZX) = 0$
– OSA Token (OSATOKEN) = 0$
– eToro Euro (EURX) = 0$
– KVANT (KVNT) = 0$
– Swapzilla (SWZL) = 0$

It is the cheapest cryptocurrency yet in 2021. Their price is 0$. Maybe the price of this cryptocurrency will change in the future. However, the price of cryptocurrencies changes daily. Perhaps when you are reading this article, its price must have increased at that time.

Therefore, before buying any currency, you must check the updated price of that currency once.

Which is the most expensive Cryptocurrency?

The most expensive cryptocurrency at the moment is yearn.finance . Whose price is $36,642. It is more expensive than bitcoin at the moment. At present, bitcoin is at number three in the list of expensive cryptocurrency.

Let's know about the most expensive cryptocurrency.

● yearn. Finance (YFI) =$35,642
● Bitcoin BEP2 (BTCB) = $35,001
● Bitcoin (BTC) = $34,980
● Wrapped Bitcoin (WBTC) = $34,830
● Maker (MNK) = $2,891
● Ethereum (ETH) = $2,891
● Bitcoin Cash (BCH) = $561
● Kusama (KSM) = $393
● Binance Coin (BNB) = $338
● Compound (COMP) =$288

So friends, this is the top 10 most expensive cryptocurrencies. Right now in May 2021, the price of all these was very high. The price of bitcoin had reached more than 48 lakhs. But only one tweet by Elon Musk has reduced the price of bitcoin by more than 23 lakh rupees.

Is Cryptocurrency Illegal (Ban) in Pakistan/India?

No, Cryptocurrency is completely legal in Pakistqn/India. Meaning that you can buy and sell cryptocurrencies in Pakistan/India. At this time a lot of fake news is going viral that cryptocurrency is banned in Pakistan/India. Which is absolutely wrong. Don't believe any fake news.

Which is the first cryptocurrency?

First bitcoin currency was created. It was first created in 2009 by a Japanese citizen named Satoshi Nakamoto. Satoshi Nakamoto was a Japanese engineer.

When it was first launched in the market, no one had thought that this coin would work in lakhs of rupees in the future. At that time some people had bought bitcoin, they are millionaires and millionaires today.

Let us tell you that from 2009 to 2010, the price of a bitcoin was less than 10 rupees. Which in 2011 its price was $1. And in 2013, the price of 1 bitcoin was $350.

And then the price of bitcoin kept on increasing gradually. And today the price of one bitcoin is more than 25 lakh rupees.

How to Buy Cryptocurrency?

At present, there are many such platforms in Pakistan/India, with the help of which you can buy cryptocurrency very easily. Some of which are popular apps like this.

1. Wazirx
2. Unocoin
3. Zebpay
4. LocalBitcoin
5. Kuber Coinswitch

My According Wazirx is the best app. If you want to create an account on Wazirx app, then you can create an account with the help of the video given below.

Advantages of Cryptocurrency

– On Cryptocurrency you can multiply your money by 3,4,5 times overnight. And there is a lot of chance of being fraud in this.

You can start investing on Cryptocurrency with as little as Rs 100.

- This one is safe and secure.

Disadvantages of Cryptocurrency

It is not necessary that you always have the advantage on Cryptocurrency. Sometimes you can also suffer loss due to the price of crypto going down.

It does not come under the government of any country, so you cannot complain against it if there is a fraud with you.

Conclusion

Friends, in this article, What is cryptocurrency? I have given complete information about Now is the best time to invest in cryptocurrencies. But before investing money on any cryptocoin, you should take good information about that coin. There is very less chance of you getting loss due to this.

If you have any doubt related to this then ask us with the help of comment section. I will definitely solve your doubt.