Tell me more about Cryptocurrency…
Cryptocurrency is a type of currency which uses digital files as money. Digital signatures can be used to keep the transactions safe and let other people check that the transactions are real.
Cryptocurrencies are usually not controlled by any one person, but instead they are ‘decentralized’ and controlled by many people (the opposite to ‘centralized’ electronic money and central banks which are controlled by a small number of people).
The control of each cryptocurrency works through a list of transactions shared by everyone, usually a blockchain. This lets everyone know all of the financial transactions that have taken place.
There are thousands of different cryptocurrencies.
- NEVER give out your seed phrase or private key
- IGNORE direct messages on social platforms if you don’t already know someone
- BACK UP using google authenticator if you’re using exchanges
- BE CAREFUL on telegram and discord groups
RESEARCH first if you’re new into crypto, always research first and act with caution.