What are cryptocurrencies and what are they for?

Maybe to many of you the name cryptocurrency sounds familiar to you. Others may be somewhat confused. It is a term that we are increasingly hearing more and more. Therefore, it is convenient to begin to familiarize ourselves with this word. Because it will surely be part of a lot of news in the very near future.

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What are cryptocurrencies and what are they for?

Therefore, today we explain what cryptocurrencies are, so that you have a clear image of this concept. Also what they are for and how they are used. Thus, you will be able to know much more about this word that is going to bring tail. Do you know what cryptocurrencies are? We explain more below.

What are cryptocurrencies

A cryptocurrency or cryptocurrency is a digital medium of exchange. They are used to exchange your money for them, in order to carry out transactions. The best known of all, and the first to start trading, is Bitcoin. Most of you already know Bitcoin. Therefore, cryptocurrencies should not be a mystery. Its operation is the same as that of the famous Bitcoin.

While it is true that there is a noticeable difference between Bitcoin and the rest of the cryptocurrencies. The value of the first is much higher than that of the others. An abysmal difference. In general, most of the cryptocurrencies that have emerged subsequently are very similar to the original. They work the same way, and were created with the same goal.

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