Cyrptocurrency 101

Cryptocurrency is otherwise known as digital or online currency.  By analogy, it is like being able to send a gold coin through email. It's that easy. You send from your computer, tablet, smartphone to anyone, anywhere in the world, day and night through the internet without having to go to a bank. Your bank in this case is your online wallet.

It is open-source. Nobody owns it. No middlemen, no regulations or government interference. It is fully decentralized. It is independent and its value solely rides on the power of community.(demand and supply power)

It cannot be frozen. It does not have arbitrary limits.

Cryptocurrency is changing finance the same way the web changed publishing and other media activities.

Everyone has access to a global market through this medium.

It is a great way to minimize transaction fees. It costs nothing to set up and start working with, and you'd also have properly positioned yourself in the new economy.

The first of its kind was Bitcoin, but now there are over 700 of them. You really don't need to be bored with the dynamics of cryptocurrencies' creation. Just know that as paper money are being printed in mints by the government, cryptocurrencies are being mined using computer networks..and the transaction fees go to the miners. It can be complicated going deeper into this so it's not necessary.