Crypto Currency is much similar like traditional currency because crypto currency was designed as a medium of exchange, but it uses modern intelligence to counteract counterfeiting. Furthermore, many crypto currencies depends on distributed database know as Blockchain, Blockchain makes these crypto currencies decentralized and free from other centralized banking system. According to their nature, crypto currencies have many different use cases, including quick and cheap cross border transfer of money or wealth, issuance of non-fungible tokens or NFTs. Bitcoin in world’s most famous crypto currency which is also known as BTC. But, there are many famous crypto currencies are available on crypto exchanges like, Ethereum (ETH), Solana (SOL), Polkadot (DOT), Litecoin (LTC) etc. They all have different features and characteristics, and can be bought and sold easily and securely on crypto exchanges. Binance, OKEx and KuCoin are most famous crypto exchanges of the world.
Uses of Crypto Currency:
Crypto Currency is used for different purposes, but the most popular is its use as a source of value or exchange. For example, Btc is accepted by many online and brick and mortar merchants as a form of payment. Furthermore, digital assets have become commonplace in investment departments, making the process faster and easier with crypto exchanges such as Binance, KuCoin and OKEx.
Benefits of Crypto Currency:
Crypto currency is a decentralized currency this is the major benefit of crypto currency because crypto currency do not controlled through centralized entity (like State Bank). Crypto currency is a border less or global currency money transfer through crypto currency from one place to another place or one state to another state is much easy and fast as compared to trinational currencies. Crypto currency has much lower transfer and withdraw fee as compared to other currencies. Crypto currency is a technology based digital currency therefor it is easy to store and transfer.