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Cryptocurrency

Summary

Let us now make a summary of the important things we’ve learned in this module:

  • Cryptocurrencies are digital currencies created using Blockchain technology. 
  • They were first introduced in 2009.
  • Bitcoin is the most popular cryptocurrency. 
  • Cryptocurrencies can be bought, sold, stored and used as a medium of exchange. 
  • They are decentralized and free from any government control. 
  • Cryptocurrencies are volatile. 
  • Cryptocurrencies are an alternative form of investment and are not easily affected by economic and political instabilities. 
  • Cryptocurrencies can be bought and sold through crypto exchanges such as Coinbase. 
  • While dealing in cryptocurrencies, be aware of hackers or scammers. 
  • Investment in cryptocurrencies should be made only after gaining sufficient knowledge about the products. Due to the inherently volatile nature of the market, it is possible to lose a considerable amount of money in a short time. Hence, one should participate in the market only after learning the risks of getting into it. 

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Units 14/15