[5]
What is a Cryptocurrency?
[9]
I am launching AumSum Currency!!
[14]
To buy AumSum merchandise visit AumSum.com.
[20]
Simple stated, Cryptocurrency is a new form
of digital money.
[24]
Bitcoin The first decentralized cryptocurrency was released in 2009.
[29]
Many other cryptocurrencies like Ethereum,
Litecoin etc. have been created since.
[36]
As compared to traditional money what sets
cryptocurrency apart is the blockchain technology behind them.
[42]
In simple terms, blockchains are used for
recording transactions made with cryptocurrencies.
[48]
They are extremely secure as the transactions are encrypted with 256-bit cryptographic keys.
[55]
Some advantages of cryptocurrencies over traditional money are:
[59]
They are more secure, transparent and incur
extremely less transaction fees.
[65]
Cryptocurrencies are currently not legally
accepted everywhere.
[69]
If they become legal, we will be able to use
them to pay for stuff just like we
do with traditional money.
