What is crypto currency

[Sukii]

Now I know alot of us here already know about crypto currency
But I really wanted to enlighten beginners about it
I'm new to crypto currency and so far this is what I've learnt


CRYPTOCURRENCY is a virtual or digital currency that works on block chain technology
It can be used as a medium of of exchange online to make payment for certain goods and services
Although as a beginner at first I thought it was same as  other online payment methods like PayPal
But they are very much different
Cryptocurrency is decentralised and free from any third party interference that means it is not controlled by any government or association and this is one of the reasons why transaction with Cryptocurrency always goes through except in some cases
It uses cryptography for protection
there are different types of crypto currency which include bitcoin,altcoin etc and over the years the worth of Cryptocurrency has increased exponentially

[Sim_card]

You are getting it wrong because cryptocurrency is vague and majority of them are centralized. What you are talking about is bitcoin and not cryptocurrency because it is bitcoin that was created by Satoshi and made it decentralized so that you don't beed a third party to help you carry out your transactions. . I think a newbie like you needs to read and learn more instead of coming to teach people what you don't have the proper knowledge on. Read and improve yourself is the important thing you need to do so that you can grow in knowledge and in rank.

[Sukii]

Thank you very much I will do just that I was making some research about crypto so I wanted to share what I have learnt so far well it seems as though my source was wrong I will endeavour to learn more before posting again on the platform
Thanks once again for the correction I really appreciate it

[Cantsay]

Now I know alot of us here already know about crypto currency
But I really wanted to enlighten beginners about it
I'm new to crypto currency and so far this is what I've learnt

It’s nice that you have learned something new since you came to the forum - if you keep up like this you should be able to learn more and then contribute well to discussions.

As you can see this forum is way more welcoming when it comes to newbies than Bitcointalk, just make sure to verify your information before you pass them off to others so you won’t end up spreading misinformation concerning a topic - it’s best you create topic that asks questions instead of one that teaches as you still don’t know where to get information from.

Cryptocurrency is decentralised and free from any third party interference that means it is not controlled by any government or association and this is one of the reasons why transaction with Cryptocurrency always goes through except in some cases

I guess this was pointed out in the post above.

[Sukii]

Thank you very much for the advice and for acknowledging me at first I felt bad and was about to take down the post but your comment was what I needed
I will do as you have said thanks once again

[Tribalchief]

It’s nice that you have learned something new since you came to the forum - if you keep up like this you should be able to learn more and then contribute well to discussions.

As you can see this forum is way more welcoming when it comes to newbies than Bitcointalk, just make sure to verify your information before you pass them off to others so you won’t end up spreading misinformation concerning a topic - it’s best you create topic that asks questions instead of one that teaches as you still don’t know where to get information from.

I liked the fact he seems willing to learn new things even as a beginner, but I don't really support the idea of sharing that with the community. He should just asked questions instead, rather than trying to explain to those that might have not acquire the amount of information that he has gathered so far. I just imagine if he had actually created similar thread on the other forum with such a fresh account, It wouldn't have been a funny experience to tell.

Now I know alot of us here already know about crypto currency
~snip

OP, here is a quick suggestion. How about you make good use of YouTube videos and get good online materials that teaches the basics of cryptocurrency. I assume you know how to make good use of your search engine, so doing this will not be difficult. In other for you to survive and catch up in this space, you need to know certain things, which means the quality of information you gather matters.

[Z-tight]

Like you have been told, there are so many cyptocurrencies, of which so many of them are centralized and cannot even be used as money. What you are trying to explain in your post is BTC, it is decentralized, censorship resistant, permisisonless, etc; it was also created by Satoshi, who is anonymous until this day. Stay active in the forum and read posts of more experienced users, it will help to build up yours.

[Nheer]

Now I know alot of us here already know about crypto currency
But I really wanted to enlighten beginners about it
I'm new to crypto currency and so far this is what I've learnt

If you are new to cryptocurrency then i don’t think you should be trying to teach beginners about anything right now, you should rather focus on learning than teaching beginners what you have learned. There is a whole lot to learn about cryptocurrency soo my advice for you is to not lose focus and keep learning and forget about teaching for now.

CRYPTOCURRENCY is a virtual or digital currency that works on block chain technology
It can be used as a medium of of exchange online to make payment for certain goods and services it was introduced in the year 2013 by Satoshi Nakamoto
Although as a beginner at first I thought it was same as  other online payment methods like PayPal
But they are very much different
Cryptocurrency is decentralised and free from any third party interference that means it is not controlled by any government or association and this is one of the reasons why transaction with Cryptocurrency always goes through except in some cases
It uses cryptography for protection
there are different types of crypto currency which include bitcoin,altcoin etc and over the years the worth of Cryptocurrency has increased exponentially

I am not trying to criticize you but all these things are something any beginner can find with a single google search. You have just merely defined what bitcoin is and not cryptocurrency and i don’t see anything teachable that anyone can’t find online. When you improve your knowledge you should be able to find topics more interesting to teach.

[Cantsay]

I just imagine if he had actually created similar thread on the other forum with such a fresh account, It wouldn't have been a funny experience to tell.

He is the type that’s not thick skinned he would have quit the forum immediately due to the high amount of savage he would have received from that thread. That’s why I said, this forum is a lot more welcoming to newbies than the other one (Bitcointalk).

Lots of newbies with potential never got to show what they have because of the way they were received when they newly got to the forum some even got banned from their first post.

[Report]

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Cryptocurrency is decentralised and free from any third party interference that means it is not controlled by any government or association and this is one of the reasons why transaction with Cryptocurrency always goes through except in some cases

I guess this was pointed out in the post above.

I want cryptocurrency because it is a decentralized system and not controlled by the government, everyone has the right to use cryptocurrency and that means this cryptocurrency is a digital asset that is freely owned by anyone. In accordance with the point you tagged above, if cryptocurrency is preferred by me, it is because it is not controlled by anyone.
But sometimes there is cryptocurrency that is centralized and controlled by one institution and I have just heard of that ,but is it true?

[bitterguy28]

But sometimes there is cryptocurrency that is centralized and controlled by one institution and I have just heard of that ,but is it true?

there are some cryptocurrencies that are managed by private companies there are centralized exchanges that launch their own coins for example with binance a famous centralized exchanges has their own coin: BNB and used in their exchange

there is also a stablecoin that is UDST issued by Tether a private company so yes it is true

[Tribalchief]

I want cryptocurrency because it is a decentralized system and not controlled by the government, everyone has the right to use cryptocurrency and that means this cryptocurrency is a digital asset that is freely owned by anyone. In accordance with the point you tagged above, if cryptocurrency is preferred by me, it is because it is not controlled by anyone.
But sometimes there is cryptocurrency that is centralized and controlled by one institution and I have just heard of that ,but is it true?

Just as the reply above had said, some cryptocurrencies are centralized (private owned and managed), while others are decentralized (i.e they are managed by the entire community members). If you seek to have a decentralized cryptocurrency, then there are so many that you can probably check for online and purchase them in various exchanges. But you've to understand that in as much as these decentralized cryptocurrency is not controlled, some of them don't really offer complete anonymity, in the sense that transactions are visible, and can even be traced down to you when you make use of a centralized exchange.

You should probably do your own research, so you can easily make decisions. But i believe you know that these digital assets are not free.

[Report]

But sometimes there is cryptocurrency that is centralized and controlled by one institution and I have just heard of that ,but is it true?

there are some cryptocurrencies that are managed by private companies there are centralized exchanges that launch their own coins for example with binance a famous centralized exchanges has their own coin: BNB and used in their exchange

I just found out, I think this BNB is not a centered coin. If the BNB who has it binance I already know, but if the matter of BNB is a centralized coin, I just found out. Will later if the BNB coin is centered at any time at up and down the price by Binance?

there is also a stablecoin that is UDST issued by Tether a private company so yes it is true

USDT tether is owned by a private company, do you know what the name of the company is?

I want cryptocurrency because it is a decentralized system and not controlled by the government, everyone has the right to use cryptocurrency and that means this cryptocurrency is a digital asset that is freely owned by anyone. In accordance with the point you tagged above, if cryptocurrency is preferred by me, it is because it is not controlled by anyone.
But sometimes there is cryptocurrency that is centralized and controlled by one institution and I have just heard of that ,but is it true?

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You should probably do your own research, so you can easily make decisions. But i believe you know that these digital assets are not free.

My burden if I am discussing it because it is true that as you say is this Cryptocurrency Digital Asset is not free, so I also practice can not immediately send and receive coins. So, I keep asking here with all the members for every step of learning cryptocurrency.

[Hyphen(-)]

CRYPTOCURRENCY is a virtual or digital currency that works on block chain technology
It can be used as a medium of of exchange online to make payment for certain goods and services it was introduced in the year 2013 by Satoshi Nakamoto

Good one; you are learning in good way, but I think I will need to correct you in some aspects.
It was in 2009 that Satoshi Nakamoto invented Bitcoin, which is the beginning of cryptocurrency. Make sure you read from a reliable source because Bitcoin, is not a virtual currency but a digital currency that was created to give us financial freedom.

Cryptocurrency is decentralised and free from any third party interference that means it is not controlled by any government or association and this is one of the reasons why transaction with Cryptocurrency always goes through except in some cases
It uses cryptography for protection

Cryptocurrency is not completely decentralized, but there are coins that decentralized like Bitcoin, eg Monero.
Altcoins are centralized.

[Bhigdaddyjr]

Digital currencies like Bitcoin are known as cryptocurrency, or "crypto." They are utilized as investment opportunities or as an alternate form of payment. The cryptographic methods that enable people to experience cryptocurrency safely without a central authority are what give them their name.