Know Everything about Cryptocurrency

Cryptocurrency - Satoshi Nakamoto, the unknown inventor of Bitcoin, A Peer-to-Peer Electronic Cash System.

SRC- blockgeeks.com

Miners find the hash – a product of a cryptographic function – that connects the new block with its predecessor. This is called the Proof-of-Work. In Bitcoin, it is based on the SHA 256 Hash algorithm.
As incentive miners get a specific amount of bitcoin. The only way to generate a bitcoin
Works on Blockchain Technology

Decentralized network of peers which keep a consensus about accounts and balances, is more a currency than the numbers you see in your bank account.
a database which can be changed by people you don‘t see and by rules, you don‘t know?
Irreversible - cant be reversed in any case be it a scam or a legit transaction
Pseudonymous: Neither transactions nor accounts are connected to real-world identities. You receive Bitcoins on so-called addresses,
Fast and global: Transaction are propagated nearly instantly in the network and are confirmed in a couple of minutes.
Secure: Cryptocurrency funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency.
Controlled supply: Most cryptocurrencies limit the supply of the tokens. In Bitcoin, the supply decreases in time and will reach its final number somewhere in around 2140.
No debt but bearer: They are money as hard as coins of gold.

Cryptocurrency is transparent - all transactions are recorded and monitored.
Unlike physical money, large amounts of cryptocurrency can be transported easily without detection
Transactions cannot be traced
No location barriers,for exchange
The BlockChain Tech that it uses is perfect

Con's

Lack of knowledge among People leading to mistrust
Cannot be recovered if lost, by hard disk getting corrupt, or mistaken formatting
cannot be traced
subject to market fluctuations
Lot's of illegal actives are conducted through it , so you become part of it
it is the money we assume so, anyone can start a new cryptocurrency any day, Bitcoin, etherum , Ripple etc
can be a bubble. like dotcom crash
Banks have started stopping the purchase of cryptocurrency with their cards
Not all cryptocurrencies will give you sky-high returns
income tax laws do not mention how cryptocurrency gains should be taxed

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