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Almost everyone has heard about bitcoin, but how many people actually know what bitcoin is?
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These digital keys confirm that it is you who is purchasing the cryptocurrency and link what makes ethereum (and its specific cryptocurrency ether) stand out from bitcoin is that instead of working as a currency and disruption for banking.
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Cryptocurrencies are traded by means of a blockchain, which shipilov describes as a way for multiple computers to come to a consensus about a set of information. Cryptocurrency is a digital currency that uses cryptography and secures digital ledgers to avoid duplication or fraud. It has no physical form as fiat currency or other assets. Keep an eye out for fees, though, as some of these exchanges charge what can be prohibitively high costs on small crypto purchases. As you might have guessed, the word cryptocurrency is a combination of cryptography and currency.
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Each user has special codes that stop their information from being accessed by other users.
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