WHAT IS CRYPTOCURRENCY AND BITCOIN?
Cryptocurrency is a digital or virtual currency. It is a novel form of the digital asset derived from and secured by cryptography. It is built upon block chain technology in which Bitcoin is coined. Aside from being accessed online, the most outstanding feature is its decentralized structure. It means that it is absolutely independent. It doesn’t depend on banks or any government interference.
This system is very flexible. It can accommodate savings and be used for spending. Payments can be made online with cryptocurrencies.
The vulnerability of this type of currency is high. Provided that it is decentralized, there is a vast array of scammers around.