Many have been wondering what is cryptocurrency, not having a clear idea of what it is, its use etc
I will try to explain the best way I can and those who can also help out in further explaining can help out on the comment section, so that we share and help each out.
SO WHAT IS CRYPTOCURRENCY?
It is money. Simple and straightforward as that. No need to crake the brain wondering what it is. This is internet currency.
Like any form of money, coins paper, cheque, in simple terms we can call it digital money. It is designed to be so secure.
The bitcoin is most common cryptocurrency. with others like altcoins.
This allows users tp make payments, store money without the need for names or bank.
The blockchain, it the administrated public leger it runs on.
this currency is decentralised thus no governemnt control etc
NOW TO RELATE THAT WITH STEEMIT.
What does cryptocurrency has to do with Steemit, some are wondering i guess?
On steemit we are making money online, the upvotes we get, the money we collect is all in the form of cryptocurrency if one was wondering how does one make money.
So by posting, we are kinda of working to get upvotes so that we get digital money. That is the cryptocurrency I am talking aboput. And of course you can redeem your rewards when you want them.
So those wondering where is the money for all my effort, the money is there, just digital.
So this is a simple explanation for those who do not really understand how to really to steemit and how you earn the money so that they get a basic idea of what the issue of cryptocurrency all is about.