It was called Crypto because it uses Cryptography for protection

binesir495

A feature that has a very significant contribution to its existence and features. We can think of digital currencies as being like traditional currencies (pounds, riyals, dollars, etc.), but they are decentralized. That is, it is not subject to a government, central bank, or banking system like traditional currencies, and thus gives its users greater freedom and security, and ensures that there is no one monitoring their money and transfers.

This is done through Blockchain technology , on which digital currencies Telegram Number Data are based. We have devoted an entire article to this technology, which we advise you to read as well. Of course, everything we mentioned here above constitutes an advantage and at the same time may cause a disadvantage for digital currencies, and we will talk about this matter in more detail shortly. HOW DID CRYPTOCURRENCY START? Digital currencies have a very short history compared to any other important technology. It began in 2009 when the first digital currency, Bitcoin, appeared publicly. Where the world was surprised by a group or person named Satoshi Nakamoto who announced the revolutionary invention of Bitcoin.




So the story of digital currencies began. Cryptocurrencies spread very slowly after that, and most people were just using them for exploration or experimentation without much belief in their importance; Especially because it is worth very little, only cents or even fractions of cents in its first period. But after this, as the years passed and the demand for it increased, its price gradually increased until it reached $31 in 2011, and then in 2013 it reached $1,242, so it was taken very seriously at the time. Other important cryptocurrencies also begin to appear, such as: Litecoin in 2011, Ethereum in 2015, and others. But the real strong start for digital currencies was in December 2017, when one bitcoin reached more than $19,000.