What is crypto money?

Crypto money are electronic monetary units, the quantity and release of which does not depend on real money created by states like the US dollar or the Russian ruble. In other words, so-called banknotes, the issue and accounting of which is carried out through asymmetric encryption with the use of cryptographic means of protection.

The history of the appearance of cryptocurrency.

Initially, crypto money was conceived as a simple way of online shopping or transferring ordinary money between network users. The first to realize the idea was David Chom and his company DigiCas Inc., launching in 1990 a centralized electronic payment system DigiCas. It became very popular and lasted eight years, until the ruin of the company Choma. Although the first cryptogeny system disappeared, its existence indicated two things:
Firstly, such money is in demand; Secondly, the idea needs to be developed.
Due to the crypto money divided into two types:
– electronic money tied to real, ordinary money;
– electronic money, the issue of which is carried out through electronic calculations on the Internet.
On the first form of crypto money, it is not worth talking for a long time, because it is known to everyone (it is used by all banks for electronic payments). The second kind, by contrast, is very curious – it is a kind of evolution of money in the digital world, the significance and consequences of which it is now difficult to assess.
The first among the new generation of electronic money was bitcoin. It was created in 2009 by a group of anonymous individuals that worked under the common pseudonym of Satoshi Nakamoto. According to the common opinion, their goal was “the creation of currency outside the state regulation for the liberation of mankind from the burden of management and control of public services and the Fed.”

How to get crypto money?

If you are reading this article, then probably each of you had a question, how to get crypto money?
-One of the most common ways is “mining”. From the English word mining, which translates as “extraction of minerals.” Use computers and other electronic devices to calculate cryptographic tasks.
– in payment for a good or service;
– buying bitcoin for regular money;
– as a gift.

Where to use it?

If we talk about the use of crypto money, then it does not differ much from ordinary money. It is used for three main purposes:
– As a medium of exchange
– for the purchase of goods and services.
– As a currency of accumulation and saving money.
– As a valuable asset, on which you can enrich, speculating them or investing in it.

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