Cryptocurrency

The world as we now know is a global village. Day by Day we get to see and use new technologies, let talk about this cryptocurrency that every one been talking about.
       
What cryptocurrency?

     Crypto currency is a visual asset designed as a medium or alternative of exchange using a secure from of encryption(Cryptography) to transact, control, transfer your asset.
Now that we know what Cryptocurrency is, lets go ahead with the types, how it work,benefits, and how we can own one.

Lists of cryptocurrencies.

like seriously, there are over a thousand cryptocurrencies in the world and and still upcoming        

but only a few are well know from: Bitcoin , Ethereum, TBC, Litecoin, ripple, swiftcoin, peercoin, blackcoin, digitalcoin etc. On this article i will focus more on BitCoin since it's the world leading coin as of now.

How Bitcion worked.

Bitcoin is a visual currency it an alternative to the local money, It work in a concept called block-chain and mining which will be explained in this article. Bitcoin is a globally accepted from of transaction cause it safer, portable, durable, and very hard to manipulate by hackers.

Block-chain 
Block-chain are public record of bitcoin transaction which are decentralized,This system give users more control over their transaction record, pile up and more pile up of transaction where bitcoin users can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other users this is know as a distributed database.

Mining

Bitcoin mining is the process by which transactions are verified and added to the public record, known as the block chain, and also the means through which new bitcoin are released.  Anyone with access to the internet and suitable hardware can participate in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a puzzle.  The users who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which is incentive mining, are both transaction fees associated with the transactions compiled in the block as well as newly released bitcoin. you see it's just play and win.

Benefits 

As a world enmeshing from of transaction it has a lot of potential advantage over other from of transaction

1. No Third-party Interruptions 
   Unlike the bank, government, and other other financial firm like pay-pal,payee can't interrupt talk more of freezing your account. In bitcoin you are the Boss.
    
2.  No Taxed: you are not taxed for any purchase, cool right?
3.  Anonymity: Bitcoin purchases are mystery. Unless a user willing publishes his Bitcoin transactions code, his purchases are never associated with his personal identity, much like cash-only purchases, and cannot be traced back to him. In fact, the anonymous Bitcoin address that is generated for user purchases changes with each transaction.
   
   
   
4. Mobile Payments:Bitcoin users can pay for their coins anywhere they have Internet access. This means that You never have to travel to a bank or a store to buy a product. Unlike online payments made with bank accounts or credit card personal information is not necessary to complete any transaction. 

 And lot more benefit.But remember just like Gold, bitcoin has a limited supply so it your choice to make now Join the BitCoin community . 

P.S if you did more info about this article go to Bitcoin Basics.