Is cryptocurrency a form of payment?

Although cryptocurrency is defined as a form of “digital currency”—implying it’s a kind of money—most businesses and consumers have not adopted it as a common medium of exchange. In other words, most stores will not accept crypto as a form of payment.

How many cryptocurrencies are there?

As of today, there are over 10,000 cryptocurrencies in existence. At the moment, the top two coins are Bitcoin and Ethereum. While there are a lot of other coins, these two have established their dominance in the cryptocurrency space. How Does Cryptocurrency Work? The way cryptocurrency works are different from the way regular banking works.

How to buy cryptocurrencies?

There are various ways to buy cryptocurrencies. The first thing you’ll need to do, though, is convert your fiat currency into cryptocurrency. Then, you can choose to either HODL, trade it with other cryptocurrencies, or lend it and earn interest. Let’s take a look at the different types of cryptocurrency exchanges.

What is a cryptocurrency blockchain?

A cryptocurrency blockchain is similar to a bank’s balance sheet or ledger. Each currency has its own blockchain, which is an ongoing, constantly re-verified record of every single transaction ever made using that currency. Unlike a bank’s ledger, a crypto blockchain is distributed across participants of the digital currency’s entire network