Cryptocurrency

Cryptocurrency is a type of digital money that does not physically exist as such and is also not stored anywhere other than on a network, via a decentralized system called a blockchain.

They are easily accessible currencies and their management is solely and exclusive to who owns them and for this only requires access to the internet via a computer or smartphone, i.e. no intermediary is required to be able to carry out operations with them as is usually done in banks.

Cryptocurrencies can be said to be a part of the monetary system and have no value for the material they are made of like gold or silver, this does not depend on any institution or government but on supply and demand, that is to say, that the value given by the people, the more the more people are interested in cryptocurrency, the more its value will increase.

The first cryptocurrency created was bitcoin but today there are over 100 different tokens. It is associated with the name cryptocurrency because of its encrypted nature, i.e. it is protected via a key, which makes it attractive due to the cost of stealing it.

Cryptocurrency emerged after the 2008 financial crisis when Satoshi Nakamoto had the idea of ​​joining technology and the internet to get out of the system (banks, government) Nakamoto created the idea where one person can pass value from one person to another without going through an intermediary entity. It is important to say that electronic money exists, but to operate it you need a bank where you have a commission.

Cryptocurrency is a digital currency on a blockchain system, dependence on traditional institutions, its value is determined by supply and demand making it unique, BTC is the first cryptocurrency.

Cryptocurrency increased security and created a challenge, released in 2008, that offers a decentralized alternative to traditional financial systems and allows transactions without intermediaries.