How to define crypto in simple words?

[Naz]

Crypto is the most important invention since the internet. It will change the world.

Crypto is a type of digital currency that can be used to buy or sell goods and services, just like other currencies such as US dollar, Euros, etc. However, unlike other currencies, it is not controlled by any government or central bank.

With crypto you don't need to trust a third party to keep your money safe because it's secured by cryptography - a form of security that uses complex mathematical algorithms and codes to secure information from unauthorized access.

In this digital age when we are surrounded by cyber threats and hacking attacks on an almost daily basis, crypto can help us feel more secure about our money and identity.

Cryptocurrency is a digital currency that has been created to serve as a medium of exchange. It is also considered as an asset for investment purposes. It is a decentralized form of currency, which means that it does not have any type of physical representation like the notes or coins.

Cryptocurrency was invented in 2009 by Satoshi Nakamoto and it was designed to be used as a medium of exchange between two people without the need for any intermediary.

Crypto has become increasingly important in today’s world with the rise in global e-commerce and mobile payments. Crypto can also be used to make payments without any third party involvement, which makes it more secure than traditional payment methods such as credit cards or PayPal.

 

[btaliat]

It was rumored in 2009 that Nakamoto introduced bitocin and since then people have been wondering what crypto is all about. The curiosity made people to know how crypto works. Not long after that people started knowing about Blockchain and other lexicons and jargons associated with crypto. What is now crypto?


Crypto from the above explanation means a decentralized digital coins that uses Blockchain as a means of performing its transactions. What does this means to a lay man? It means you don't need any centralized body or means before you do or complete any transaction. Gone are the days that you need someone to control and monitor the way you spend your money. This time, you are the sole controller of your money.

As good as this may sound. It was welcomed with mised reactions. While some people see it as another means of defrauding people, others see it as a way of gaining financial freedom where you don't need to be monitoring your spending and receiving. In fact, people started taking more interest in it when the first bullish market which set bitocin to the moon happened in 2017 and then 2020.

Of course, government was a major anti preacher of crypto.