A Beginner’s Guide to the Latest Market Gig-Cryptocurrency

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A Beginners Guide to the Latest Market
Gig-Cryptocurrency
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What is Cryptocurrency? Starting from its premier
meaning, Cyptocurrency is actually a shortened
version for cryptographic currency. But, in
broader terms it is defined as a digitally
encrypted form of currency that bears no central
issuing authority but has some decentralized
system to record the Digital Money Exchange or
transactions as well as the issuing of new
currency units to avoid any fraud activity during
transactions. The decentralized system is the
much discussed topic-Blockchain which has
miners to record such activities. The
cryptocurrencies that are popular today are
Bitcoin and Ethereum.
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Where does this cryptocurrency go? The digital
wallets that are on the list of Blockchainstores
this Cryptocurrency. Just a bit of internet
connection is necessary to access these
cryptocurrencies.
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• How it actually works?
• The Beginning of transaction The user goes to a
  Digital Exchange Forum to convert the currency
  into bitcoins and stores them in their bitcoin
  wallet.

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• The working inside the network The instant the
  user makes such demands, the bitcoin network is
  alerted about his purchase. The Bitcoin network
  is full of online merchants who accept bitcoin.
• The payment system The decentralized system of
  bitcoin has miners who are working inside the
  blockchain and taking care of every transaction
  that is being made. These miners maintain a
  ledger.
• The end of transaction After a quick
  verification, the data is broadcasted to all the
  users and the purchase is added on to the ledger.
• This is how the entire system of cryptocurrency
  works.