![CRYPTO.jpg](https://steemitimages.com/DQmXL4UzUSN4HoxjbpR8uPGr6wzh7RKpDUjFUjEqWaLQQ89/CRYPTO.jpg) When i joined steemit , the community , i did not hear about cryptocurrency a lot , just a few speculations , taughts , and i did not really understand how and the cryptocurrency works . I do not want to say that i completely understand now but i an getting the main idea of crypto. i want to share basic stuff that i knew when i started steemit , somebody to tell me .Ofcourse i started searching online and got a few answers that cleared my mind a bit. So let's begin.

1. Good to know : Cryptocurrency is a type of virtual coin , used as a mean of paying. There are many cryptocurrencies outthere like : Bitcoin(BTC) , Ripple , Litecoin , Dogecoin ant others ). Its name is given by the fact it is using cryptography and is decentralized in order to control tranzactions and prevent double amount of money spent , an existing problem for current valute. Important to say not to compare the cryptocurrency with a DIGITAL COIN. Legally , this is not a digital coin . Further things to know :

2.Digital wallet. Digital wallet is , in general the same as a bank account , allows recieving of cryptocurrencies and sent to other accounts . Wallets store private passwork for accesing bitcoin adress .

3.Transactions. Transactions in cryptocurrencies are secure with help of cryptography between digital wallets .Every wallet recieve a private key , that blocks modifications from another person , this fact making tranzactions very sure .

4.Mining. Cryptocurrency can be bought , but created too .The process of creating is called "mining". The participants in the network are known as miners .This miners check tranzactions and share in a database called blockchain. The mining operation is very complex and is very difficult to realize on your own, by a single user .This way , were made groups of miners called "mining pools" .

5.Advantages and Dissadvantages . Advantages :

a decentralized system , no central autority ,like a central bank
variable comisions
no linit for transfers
really fast transfer anywhere in the world
payment cand be done without personal data to be associated with tranzaction
user have permanently control of tranzactions
possibility of createing a copy of cryptocurrency
personal data of the user is hidden

Dissadvantages :

reduced reuse
ireversibility of tranzactions , canceling is imposibile
interdiction of some type of cryptocurrency in some countryes
requiers a high level of security
not all of comercians accept cryptocurrency as a payment method

Cryptocurrency : Bitcoin , Ethereum , Bytecoin , Ripple . Litecoin , Monero , Ethereum Classic , Daash , MaidSafeCoin , Augur , Steemit , Nem , Iconomi ,Factom , Waves , Golem , Dogecoin , Zcash , DigixDAO , Ardor , Stellar Lumens . These are a few of them . Finally , here i am . I am getting to understand better what cryptocurrency means . Hope you find this taughts useful .