• Definition

    Cryptocurrency is just money in digital form

  • Use cases

    Cryptocurrency can be used as a medium of exchange in any kind of transaction

  • Storing Cryptocurrency

    You can store your cryptocurrency in a secure digital wallet like yellowcard

  • Ready to get started?

    You can purchase cryptocurrencies like Bitcoin, Ethereum & Dash on yellowcard

Definition

Cryptocurrency is just money in digital form which can be spent or transferred from one digital wallet to the other like you send an email or text message, and unlike your local currency it’s decentralized, no nation or bank controls it so you don’t need one to transact with it.

It’s called cryptocurrency because of its use of cryptography for network security & regulation of monetary units.

Cryptocurrency came to be when the Bitcoin was created in 2008 by an unknown person or group of persons known as Satoshi Nakamoto and is now the fastest-growing monetary system globally.

Blockchain: This is a string of ongoing digital records created within a distributed network. Each block is a continuation of the previous block, carrying all the transactions earlier recorded, and when linked together these become a chain of blocks filled with information, blockchain.

Common Cryptocurrencies:

Bitcoin: This is the world's first peer-to-peer decentralized digital currency created in 2008 by an unknown person or group of persons known as Satoshi Nakamoto.

Ethereum: Ethereum is an open source, global, decentralized platform for money and new kinds of applications. Its cryptocurrency is used by applications built on Ethereum as platform fees to keep the applications running.

Litecoin: Litecoin is a peer-to-peer digital currency with the same source code as bitcoin. It is a cryptocurrency as it utilizes cryptography to secure the Litecoin network, verify transactions, and regulate the creation of new coins. It was created in 2011 as a complement to bitcoin.

Stellar: Stellar is an open source, decentralized protocol for digital currency to fiat money transfers. The cryptocurrency, originally known as stellar, was later called Lumens or XLM to differentiate it from the protocol. It was created in 2014.

Dash: Dash (formerly called Darkcoin) is a fast payment cryptocurrency that was built using a copy of the Bitcoin source code in 2014, however, some significant improvements have been made to it that makes it’s major holders vote on network governance & use.