what is cryptocurrency and how can we buy the currency bitcoin

What is cryptocurrency and how can we buy the currency bitcoin 

Why do people think to invest in crypto 

Today digital currency trends high to make money online so young people are smartly investing in crypto .  Many people don't. know about crypto so I select that topic to understand easily ,

What is cryptocurrency ?

Its digital currency provider platform is a currency company where the value is fixed based on market exchange of currency under financial aspects of cryptography.

Wikipedia 

A cryptocurrency (or cryptocurrency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.

Characteristic of cryptocurrency 

1. Trustlessness: In the case of fiat, you need to trust a third party to guarantee the value of your money by not debasing it. The buyer or seller of goods and services in the transaction must make the same assumptions you do; if 1 cow is worth 100 dollars today and 1000 dollars tomorrow, why would you sell 1 cow today? Cryptocurrency removes this need to trust someone by incentivizing every actor in the network to not debase the currency and not commit fraud
2. Decentralization: With banks and governments, the supply and creation of money through mints and interest rates are at their sole discretion. Users of the currency they control are hence, at their mercy. With cryptocurrency, however, no individual or consortium is able to affect the supply of currency or exert significant influence over it without the approval of the majority. Even if there is majority approval, minorities are free to “fork” away and administer their own version of the currency. Consider this something like using cigarettes in the Weimar Republic if you think your currency is being debased and now worthless
3. Immutability: When we want to check how money has been removed from our bank accounts, we are able to refer to our transaction history with the bank. However, doing so implies a few things:
   • That we trust the bank does not fabricate false transactions and manipulate our money
   • That we trust the bank delivers outgoing transactions to our intended recipients
   • That the bank employs sufficient security to ensure that other parties are not able to make these transactions on our behalf. When the element of trust and centralization is removed from the equation, however, there is no longer any party to trust to do this. As a result, records need to be made public and unchangeable. The cryptographically secure nature of cryptocurrency ensures that while it is not impossible to change the transaction ledger, it is extremely difficult and would require you to oppose the entire network of cryptocurrency users.

How are these actually achieved? How can I be sure that cryptocurrency is not a fraud?

In order to understand how and why these characteristics of cryptocurrency exist, it is necessary to take a closer look at the technology underpinning every cryptocurrency: The Blockchain.

“Blockchain Technology” is a term you have probably heard used a lot by many different companies, especially banks, hoping to capitalize on the cryptocurrency mania.

What is not understood by many, however, is that the blockchain was originally designed inherently with cryptocurrency. That is to say, it is not possible to separate both concepts* as the cryptocurrency underpins the security of the blockchain.

So what is the blockchain anyway?

To put simply, the blockchain is the public ledger of records. It contains the list of every single transaction, every single “account” and every single piece of data that has been sent through the network. It is also permanent. (Read more Guide to Verifying Cryptocurrency Transactions)

Its unchangeability comes from the way the blockchain is derived. As its name implies, IT consists of segments called blocks which are individual, discrete units that are assembled into a chain, aka the blockchain, via a process known as mining (for “Proof-of-Work” blockchains) or (in the case of some blockchains running on “Proof-of-Work”) forging or mining.

In all these cases, the aim of the process is to provide some cryptographic ‘proof’ to all other network actors to a) verify that the block being presented is valid; b) transactions added to the block are not fraudulent.

“Proof-of-Work” and “Proof-of-Stake” can be thought of as a Parliamentary vs Presidential democracy. They work in different ways but with the same aim: Of achieving network consensus on the next block produced/discovered.