What is cryptocurrency?
Cryptocurrency is a tradable digital form of money or asset. You can find its existence online that means they are purely digital and there is no option to take out a cryptocurrency in paper or coin form. Cryptocurrencies uses secret codes that is cryptography to verify and secure transactions.
Currently, there are over one thousand different cryptocurrencies in the world. Most people see them as the backbone of a fairer and future economy. It works by logging transactions into a database to work out how much of that currency each individual, or their address, is holding. It is, in fact, built on Blockchain technology.
When using cryptocurrency you have a public key and a private key, both of which appear as strings of random numbers and letters. It is recommended that you never share your private key with anyone.
It is also very important that your private key written down and stored in a safe and secure place.
There is no availability of options like "I forgot my private key" in case of cryptocurrencies. If you lose you private key, you lose everything controlled by the key.
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