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What is Cryptocurrency? Why do many people believe crypto is the “future of money”? Cryptocurrency is a digital or virtual form of money that exists only online and uses cryptography (advanced encryption) to secure transactions, control the creation of new units, and verify transfers. Unlike traditional money issued by governments (like the Indian Rupee or US Dollar), most cryptocurrencies are decentralized — they run on a distributed ledger system called blockchain, which records all transactions publicly and securely. Why many people believe crypto is the “future of money” 🚀 1. Decentralization No single authority (like a central bank or government) controls it. Gives people more financial freedom and reduces reliance on banks. 2. Global Access Anyone with the internet can use crypto, even in countries with weak banking systems. Useful for cross-border payments without expensive fees or delays. 3. Fast & Low-Cost Transactions Traditional international transfers can take days and involve high fees. Crypto transactions can be nearly instant and much cheaper. 4. Limited Supply & Inflation Protection Many cryptocurrencies (like Bitcoin) have a fixed supply. This scarcity is seen as protection against inflation caused by governments printing too much money. 5. Transparency & Security Every transaction is recorded on the blockchain, which is nearly impossible to tamper with. This creates trust without needing a middleman. 6. Innovation & Financial Inclusion Cryptocurrencies enable new financial systems (like DeFi – Decentralized Finance) and digital assets (like NFTs). They allow people without bank accounts to participate in the global economy. 7. Hedge Against Traditional Systems In times of economic crises, unstable banking systems, or currency collapse, people turn to crypto as an alternative.
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