What Is Cryptocurrency?

Cryptocurrency also termed as Digital or Virtual currency is considered as a form of asset and the currency is designed to work as an exchange medium.

Crytpocurrency uses strong cryptography to secure the financial transactions. All these cryptocurrencies work on the blockchain technology which is a decentralized system.

The best feature of the cryptocurrency is its organic nature, where it is not issued by any central authority nor does have any government interference or manipulation with the currency.

Bitcoin is the first blockchain based cryptocurrency and is the popular and most valuable one. The popularity of Bitcoin has given birth to hundreds of alternate cryptocurrenies designed with various specifications and functions.

Some of these cryptocurrencies are clones of Bitcoins and few are forks. With so many cryptocurrencies out in the market, where new ones come out almost daily and old ones disappear seemingly.

In order to make a place and be considered as successful coin in the crypto market, these cryptocurrencies are ranked based on few criteria or values such as the market cap value, price, circulating supply of cryptocoins and maximum supply of crytocurrencies.

If the crypto coin holds the maximum market cap value along with the maximum and circulating supply then the coin stands first in the race. Bitcoin is one such coin which stands in first place so far and still continues to be in the same place followed by Ethereum and Bitcoin Cash.

Bitcoins and the other cryptocurrency is most popularly used in the online gambling industry, there are wide range of bitcoin casinos accepting bitcoin as their payment method.