“Crypto is the real deal”
“Crypto is the new gold”
“Crypto is the fastest way to get money”
I’m sure you must have heard any other above statements in the last six month. There has been a surge in the number of people engaging in crypto currency. Infact, it seems one in five folks are into crypto.
This article would serve to some answer frequently asked questions on crypto currency. Take it as Crypto 101.
Q1: What Exactly Is Crypto?
Crypto is a short form for crypto currency. A cryptocurrency is a type of currency which uses digital files as money. Usually, the files are created using the same methods as cryptography (the science of hiding information). Take it as a form of E-Currency with which you can trade and is totally secured.
Q2: What Are The Most Common Types
Here are five most common types of crypto currency
Bitcoin BTC
Ethereum (ETH)
Binance Coin (BNB)
Tether (USDT)
DodgeCoin
Q3: Is It Safe To Invest In Crypto Currency?
Every profitable endeavor has some level of risk associated with it and that includes crytpo. It is safe if you know your onions and you are well vested in the trade.
If you however lack expertise, crypto might be a slippery slope for you.
Q4: Is Crypto Real Money?
Cryptocurrency is E-money. To convert it to real cash, you will have to create a wallet to receive your crypto after which you can withdraw “real” money from your wallet.
Q5: Is Crypto Currency The Same As Yahoo?
Yahoo is a slang for internet fraud and I will answer this question in one single line.
No, crypto currency is definitely not Yahoo. It is 💯 legit.
Further questions are welcome in the comment section.
