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What is cryptocurrency and how does it work?
Cryptocurrency is decentralized digital money that’s based on blockchain technology. You may be familiar with the most popular versions, Bitcoin and Ethereum, but there are more than 9,000 different cryptocurrencies in circulation. How Does Cryptocurrency Work? A cryptocurrency is a digital, encrypted, and decentralized medium of exchange.What was the first cryptocurrency?
The first cryptocurrency was Bitcoin, created by an anonymous computer programmer or group of programmers known as Satoshi Nakamoto in 2009. Satoshi Nakamoto was concerned that traditional currencies were too reliant on the trustworthiness of banks or governments to work properly.What are the advantages of using crypto over traditional money?
There are several advantages of using crypto over traditional money. From its ease of use to its availability and security, cryptocurrency has become a viable alternative to traditional money by offering users new and unique features. They include: Very low transactions costs.Is crypto a scam?
A key point to note here is that the whole “crypto is a scam” narrative is pushed by media companies as it gets more traffic. In a recent report by Similarweb, it became clear that terms like "cryptocurrency investing" or "how do I invest in crypto?"- Terms & Agreement
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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