What is Cryptocurrency?
Cryptocurrency, which has been on the agenda recently, heard by almost everyone and deeply affecting the markets , is a currency that is encrypted in order to secure the transactions, can be used in exchange and exchange transactions, and maintains its existence in a completely virtual and digital environment.
Crypto money , which is believed to be the currency of the future, with the effect of technology, is the focus of attention of almost everyone, from the largest companies to the country managers. However, there are many people who have no idea what crypto money is. Thanks to the explanatory nature of our site, we aim to eliminate all market-related question marks.
In fact, every person is intertwined with virtual currencies in their daily lives. We transfer virtual money through credit cards, debit cards, ATMs and mobile banking. Because when these operations are done, only the data on the system is changed. Cryptocurrency also has the same logic and principles.
What is Cryptology?
Cryptocurrency is transferred through the creation and decryption of passwords on a virtual environment, thanks to Cryptology, which is a cryptographic unit. Cryptology is not only used for cryptocurrencies , it is even used for military activities.
Apart from that, it helps in the sale of art products with NFT. It is frequently preferred recently in order to avoid security problems in workplaces. In fact, cryptology is a system that exists in all areas of life.
History of Cryptocurrencies
With the effect of the dizzying progress of technology, many companies have taken initiatives for the production of virtual and digital currencies since the 90s. Systems such as Flooz, Beenz, and DigiCash tried to develop cryptocurrencies, but at that time, the trust in cryptocurrencies was not that high and attempts were unsuccessful.
Cryptocurrencies are used by many people today, both in the field of investment and shopping. There are different alternatives to owning money in such digital environments. While it can be obtained in real currency, it can also be obtained by mining.
Are Cryptocurrencies Legal?
The countries themselves decide whether cryptocurrencies will be legal or not. Some countries have not reached a definite conclusion by being shy about cryptocurrencies . Some countries, on the other hand, do not cause problems in this regard and explicitly allow its use.
Cryptocurrencies are completely banned in some countries.