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    What is Cryptocurrency? How does this work? How many types of crypto are there?

    In this era of digital advancement, cryptocurrency is gaining prominence. It is a radical digital currency. Its value is much higher than that of normal currency.
    These digital currencies are usually traded online.
    The government of a country does not create these digital currencies, so such currency has no official or legal recognition.

    There was a time when commodity exchange or cattle trading was done. Now we use currency to buy and sell anything. Every country has its own different currency i.e. currency. Talking about the currency of India, it is the rupee, and if we talk about America, then the dollar runs here. Euro is used as currency in many European countries. In this era of digital advancement, cryptocurrency is gaining prominence. It is a radical digital currency. Its value is much higher than that of normal currency.

    These digital currencies are usually traded online. Since the government of a country does not create these digital currencies, such currency has no official or legal recognition. Cryptocurrency can be used for various online purchases and transactions. This digital currency can also be considered as a digital asset or asset.

    How Cryptocurrency Works

    Cryptocurrency usually operates through blockchain technology. Many experts use powerful computers to verify these currencies. The entire verification process is known as mining. Blockchain technology eliminates the need for banks or any other third party to transact cryptocurrencies. It can be directly transferred i.e. transferred digitally. Cryptocurrency is traded on various crypto exchange sites. When a currency is sold to someone else, all its details are recorded in the block chain.

    Various popular cryptocurrencies and their current prices

     

    Bitcoin (btc)

    The most popular cryptocurrency is bitcoin. It was launched in 2009. At the beginning of November, the price of bitcoin was $68,515. In addition, it had a market cap of $31.3 trillion.

    Ethereum (ETH)

    Ethereum is the most popular after bitcoin. Its price at the beginning of November was $ 4,850. In addition, it had a market cap of $4,574 billion.

    Cardano (ADA)

    This cryptocurrency is used to enable smart contracts, identity. Its price at the beginning of November was $2.26. Its market cap was $75 billion.

    Binary Coin (BNB)

    This cryptocurrency was launched by the crypto exchange company Binance. The price at the beginning of November was $650.69. In addition, it had a market cap of $109 billion.

    Solana (SOL)

    This cryptocurrency was launched in 2020. The price at the beginning of November was $245.71. Although its market cap was $74 billion.

    Tether (USDT)

    It is a stable coin that selects the value of a specific asset. The price at the beginning of November was $1. In addition, it had a market cap of $74 billion.

    XRP

    This cryptocurrency was launched in 2012. The price at the beginning of November was $1.33. Apart from this, its market cap was $62 billion.

    polka dot (dot)

    This cryptocurrency was launched in May 2020. The price at the beginning of November was $51.20. If we talk about the market cap, then it was $ 51 billion.

    Dodgecoin (Doge)

    This cryptocurrency has an unlimited insurance limit. The price at the beginning of November was $0.27. In addition, it had a market cap of $36 billion.

    USD Coin (USDC)

    At the beginning of November, the value of this cryptocurrency was $1. In addition, it had a market cap of $35 billion.

     

    What platforms are used to invest in cryptocurrency exchanges

     

    There are many apps for cryptocurrency exchange in India, the most notable of which are:-

    CoinDCX

    This app was created in 2018. There are over 200 altcoins for cryptocurrency exchanges. Now about 35 lakhs have been invested in this exchange site.

    ZebPay

    This app is the oldest cryptocurrency exchange platform. It was launched in 2014. It is considered to be the most secure platform of currency exchange.

    WazirX

    It is the largest platform for cryptocurrency exchanges. This site provides special security benefits to the users.

    Unocoin

    This application was created in 2013. It has around 1.5 million investors. This app has more assets than the WazirX platform.

    CoinSwitch Kuber

    This is a Bangalore based trading platform. It allows users to trade in more than 100 cryptocurrencies. Users can create their account in it by signing up with mobile number.

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