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[QUOTE="Finger Geek, post: 273535, member: 27389"] Cryptocurrency is a type of digital currency used in transactions, payments and banking. It has its own blockchain, a distributed and encrypted digital ledger. The main application of cryptocurrency is payment system and currency conversion. It's gaining a lot of popularity worldwide. The main appeal of cryptocurrency is that it's digital and decentralized. This means that all transactions are made by computer algorithms, without the need for a third party. These characteristics make cryptocurrency convenient, but there are also security issues when dealing with virtual commodities. For instance, when dealing with cryptocurrencies, make sure you keep your personal information secure and don't send money to strange persons or addresses. Cryptocurrency is also global in nature; there are over 1,000 banks and companies providing services for the cryptocurrency market in 2017. Most banks have their own cryptocurrency departments, which are responsible for creating new coins and maintaining existing coins. They also ensure the safety and transparency of all operations related to the coin such as buying, selling, storing and mining them. There are even seminars for bank employees so they can learn about cryptocurrency and its implications for their business model. Many people make money from using cryptocurrency as an investment product or payment system. For example: you can buy cryptocurrencies with a credit card or through an online exchange like Coinbase or Binance. Then you can sell them to make money or use them in transactions like payment systems or buying goods online. There's also mining, where you use powerful computers to process transactions or create new coins. You can then sell those new coins to make money back or trade them on different currency exchanges for money. [/QUOTE]
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