How does crypto work for dummies?

The blockchain serves as the backbone of cryptocurrency systems, providing a transparent and Immutable record of all transactions. This ensures that every transaction is verified and cannot be altered or deleted, fostering trust and accountability within the network.

Cryptocurrency represents a revolutionary form of digital money that operates independently of traditional banking and financial institutions. It enables individuals to conduct transactions without the need for intermediaries, offering a degree of autonomy and privacy.

The core principle behind cryptocurrency lies in its decentralized nature. This means that transactions are not subject to the control or oversight of a central authority, such as a bank or government. Instead, they are verified and recorded on a blockchain, a secure and tamper-proof digital ledger.

Cryptocurrency can be used for a variety of purposes, including purchases and investments. Its versatility has led to its widespread adoption, with many individuals and businesses now accepting it as a form of payment.

Among the leading cryptocurrency exchanges is BTCC, which offers a comprehensive range of services to its users. These include spot trading, futures trading, and cryptocurrency wallet services. By providing these services, BTCC enables users to buy, sell, and store cryptocurrencies with ease and convenience.