What Are Cryptos?

Cryptos or Cryptocurrencies are a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Cryptos can also be called ‘digital currencies’, ‘alternative currencies’, ‘alt coins’ and ‘virtual currencies’.

Bitcoin became the first decentralised cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin and alternative. Bitcoin and its derivatives use decentralised control as opposed to centralised electronic money/centralised banking systems. The decentralised control is related to the use of bitcoin’s blockchain transaction database in the role of a distributed ledger.

Cryptos include Bitcoin, Ethereum, Litecoin, Dash, NEM, Monero, IOTA, OmiseGO, NEO and BitConnect to name just a few! If you want to see a comprehensive list with current prices see here: https://coinmarketcap.com

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