Here is a list of frequently asked questions that relate to cryptocurrencies.
- 1 What is a cryptocurrency?
- 2 Why should I use cryptocurrency?
- 3 How many cryptocurrencies are there?
- 4 What is a blockchain?
- 5 What is a wallet?
- 6 Where can I buy cryptocurrency?
- 7 Where can I sell cryptocurrency?
- 8 What is an exchange?
- 9 Who created Bitcoin?
- 10 When did cryptocurrencies start?
- 11 What was the first altcoin?
What is a cryptocurrency?
A cryptocurrency is a digital asset that is backed by cryptography.
Why should I use cryptocurrency?
There are many reasons that make cryptocurrency useful:
- Low fees. Crypto can be extremely cheap in transferring money to another person.
- Fast. Most cryptocurrencies will send transfers within minutes, and even some within seconds.
- Security. Cryptocurrencies are extremely secure, and are a safe way to transfer large sums of money.
How many cryptocurrencies are there?
In 2018, there are currently over 1500 different cryptocurrencies.
What is a blockchain?
A blockchain is a peer-to-peer public ledger that stores every transaction made on a cryptocurrency network.
What is a wallet?
Where can I buy cryptocurrency?
Cryptocurrencies are typically purchased on a exchange. There are a ton of different exchanges, and most offer different altcoins than others. Usually, you must trade with Bitcoin, Litecoin, or Ethereum which can be purchased on Coinbase using a debit card or bank account.
Where can I sell cryptocurrency?
Most cryptocurrencies are sold on exchanges for bitcoin, litecoin or ethereum. From there, users can sell those three coins on Coinbase for american dollars, which can be transferred to a bank account.
What is an exchange?
A cryptocurrency exchange is a website that allows users to trade different cryptocurrencies.
Who created Bitcoin?
When did cryptocurrencies start?
The first cryptocurrency, Bitcoin, was created in 2009.
What was the first altcoin?
The first altcoin was Namecoin was created from Bitcoin in 2011.