A Beginners Guide for Crypto Currency

What is Crypto Currency?

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Basically, Crypto Currency is a digital form of currency created by different people or industry. We, can use it for investment or to transfer money easily from a person to another person without any heavy exchange fee. And it is uses a decentralised system and cryptography so, the transactions are much faster than the regular currency.

What is Blockchain?

Blockchain is like a digital ledger which records the peer to peer or (person to person) transaction data. So, in simple words the crypto currency uses the blockchain network for all transactions and all crypto currency have their own blockchain network.

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Types of Crypto Currency

Crypto coin can be classified into various types as stable coin, alt coin or alternate coin, token and shitcoin. Show what is the difference between them and how to distinguish them?

• Stable Coin - The cryptos which price are always become stable around $1 like USDT, USDC, BUSD and TUSD.

• Alt Coin - All crypto currencies except Bitcoin are considered as alternative coin.

• Crypto Token - The difference between a crypto coin and a token is simple. While, a coin has it's own blockchain network, a token don't have that it uses a crypto coin's blockchain network for transactions. For example Bitcoin, Ethereum and BNB are considered as coin while Shiba Inu, UFT and BAT are considered as tokens.

• Shitcoin - Shit coins are those crypto currencies which are literally have no value or very low price like 0.000000000000012, and also designed with a poor technology only for purpose to make money or to scam people. But not all shitcoins are scam but mostly are scam.

That's all for today, I will try to make another part about crypto investment and how to distinguish between a good coin to invest? how to trade? how to analyse and much more. So, stay tuned.

Thank you, for reading and I appreciate if, I'm able to make you understand something about crypto.