What is cryptocurrency| 10% tron fan club|

What is cryptocurrency

As modern statistics show, most people have heard a lot about cryptocurrency. But on i few understands what exactly it is. In this article, we will talk about what cryptocurrency is and everything you need to know about this topic.

Cryptocurrency is a virtual payment system that does not use banking organizations to verify transfers and transactions. Here everyone can send and receive payments, wherever they are.

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Cryptocurrency is not like physical money. They can be paid exclusively online, and even then not everywhere. When transferring cryptocurrencies, transactions are recorded in free registers. Users can store this virtual currency in special virtual wallets.

The name of the system was due to the fact that encryption is used to verify transfers through it. In other words, augmented coding is used to save and send information about virtual currency between wallets and to free registers. The purpose of encryption is, of course, a necessary security measure.

They store these "coins" in special wallets. It has its own for each type of cryptocurrency. To use it, the client receives his own address, which consists of a random set of letters and numbers. It can also be encrypted in a QR code.

It is advisable to choose verified wallets. If you use dubious options, there is a high probability that they can be hacked very soon.

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Each crypto wallet has its own method of protection. It could be:

• private key;
• master code;
• secret phrase, etc.

It is advisable to store these key elements on a flash drive or even just on paper. It is important that the device does not have access to the Internet. It will not be superfluous to also create several copies so that the key can be restored in case of loss. Because otherwise access to the wallet will be lost forever.