Cryptocurrency is a digital virtual currency system that uses a peer-to-peer system that can enable anyone anywhere to send and receive payments.
Cryptocurrencies (also just called crypto) are decentralized, meaning they are not issued, backed, or regulated by a central authority like the U.S. government
Cryptocurrency received its name because it uses enCRYPTion to verify the CURRENCY transactions. This means an advanced coding distributed public ledger (aka blockchain) records all transactions, updated and held by currency holders via data between the digital wallets (like Koinfold 2.0) and the public ledgers. The units of crypto are created by (digital) mining, which involves having computers solving complex mathematical problems in order generate coins which then can get stored in your digital wallet
Trading precious metals has been around for thousands of years. The forerunner of the modern stock exchange was created shortly after the establishment of the Dutch East India Company (in 1602 when equities began trading on a regular basis as a secondary market to trade its shares, whereas the first cryptocurrency was minted in 2009.
In contrast, crypto has only been around for a little over a decade. The original decentralized cryptocurrency, bitcoin, was first minted (the process of producing coins- in this case a digital coin) in January 2009. This technology is still very new, & the market that currently experiences considerable volatility.
It's important to learn as much as you can before you jump in. No one can guarantee that a coin's value will rise so don't be tempted by, "this can't fail!" statements. You need to be responsible to check it all out!
