The Basics of Cryptocurrency.

Part 1: Understanding the concept of Crypto

Well for the sake of newbies we have to start of with the foundation, that is first things first, we have to define what Cryptocurrency is all about. In my own understanding crypto is defined as a digital token that relies on a distributed digital ledger known as a blockchain. Cryptocurrency has evolved in less than two decades into a trillion dollar asset. Some say to understand crypto you have to separate the day-to-day market volatility from the underlying technology driving it.

Unlike traditional banking, a single centralized authority (like a central bank or financial institution) maintains the master ledger of who owns what. Blockchain flips this architecture on its head by distributing identical copies of the transaction ledger across a global network of computers, known as nodes. This is the most basic information one has to understand before buying a crypto asset.

Moving on, they are basic crypto assets one has to know irregardless of owning the assets or not. Firstly we have Bitcoin $BTC , Ethereum $ETH and the stables like USDT, $USDC just to mention a few stables. These are the most common tokens you will here mostly about when someone is talking about the whole topic of Crypto with $BTC and $ETH being the most dominant ones and a whole lot of what we call Altcoins.

Without this basic information one can not easily understand the whole concept of the ecosystem and it will be hard just buying a token becuase you heard that its printing millions.

Study more on the basics and you will definitely have a good way into the Crypto market.

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