Top 25 Questions and answer About Cryptocurrency
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Top 25 Questions and Answer About 
Cryptocurrency
Cryptocurrencies have now become a buzz word. Despite the resilience that it 
faced initially, cryptocurrencies have come a long way.  There are a total of around 
5000 cryptocurrencies circulating in the market. If you plan to make a career in this 
domain, you need to run through the following questions.
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 1.   What is a cryptocurrency?
Cryptocurrency is a digital currency that is transacted on a distributed ledger 
platform or decentralized platform or Blockchain. Any third party does not govern 
it, and the transaction takes place between peer-to-peer.
 
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2.     When was the first Cryptocurrency introduced?
The first Cryptocurrency or Bitcoin was introduced in the year 2009.
 3.     Who created Cryptocurrency?
Satoshi Nakamoto gave the first Cryptocurrency. The white paper for the same 
was given in 2008 and a computer program in 2009.
 
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4.     What are the top three cryptocurrencies?
The following are the three cryptocurrencies:
•      Bitcoin (BTC) $128bn.
•      Ethereum (ETH) $19.4bn.
•      XRP (XRP) $8.22bn.
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5.   Where can you store Cryptocurrency?
Cryptocurrencies are stored in a digital wallet, and this is accessible via public and 
private keys. A public key is the address of your wallet, and the private key is the 
one that helps you in executing the transaction.
 
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6.     Which is the safest wallet for Cryptocurrency?
 The most secured wallet for Cryptocurrency is a hardware wallet. It is not 
connected to the internet, and thus it is free from a hacking attack. It is also known 
as a cold wallet.
 7.     From where I can purchase cryptocurrencies?
The easiest way to buy Cryptocurrency is via crypto exchange. You can several 
crypto exchanges like Coinbase, Bitbuy, CHANGENow, Kraken etc.
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8.    What are the ten popular crypto exchanges?
 The following are the best ten popular crypto exchange:
 
1.     Coinbase
2.     Binance
3.     FTX
 
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4.     Cex.io
5.     Local Bitcoins
6.     Bitfinex
7.     LocalBitcoins
8.     Bittrex
9.     Coinmama
10.   Kraken
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9.     What are the key features of Blockchain?
We all know that Bitcoin or any other cryptocurrency runs on the Blockchain 
platform, which gives it some additional features like decentralization, 
transparency, faster speed, immutability and anonymity. 
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10.   What is AltCoin?
It means Alternative Coin. All the cryptocurrencies other than Bitcoin are 
alternative coins.  Similar to Bitcoin, AltCoins are not regulated by any bank. The 
market governs them. 
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11.   Are cryptocurrency sites regulated?
Most cryptocurrency websites are not regulated.
 12.   How are Cryptocurrency and Blockchain related?
Blockchain platform aids cryptocurrency transactions, which makes use of 
authentication and encryption techniques. Cryptography enables technology for 
Cryptocurrency, thus ensuring secure transactions.
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13.   What is a nonce?
The mining process works on the pattern of validating transactions by solving a 
mathematical puzzle called proof-of-work. The latter determine a number or nonce 
along with a cryptographic hash algorithm to produce a hash value lower than a 
predefined target. The nonce is a random value used to vary the value of hash so 
that the final hash value meets the hash conditions. 
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14.   How is Cryptocurrency different from other forms of payment?
Cryptocurrency runs on Blockchain technology, which gives it an advantage of 
immutability, cryptography, and decentralization. All the payments are recorded on 
the DLT, which is accessible from any part of the world. Moreover, it keeps the 
identity of the user anonymous. 
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15.   Which is the best Cryptocurrency?
Several cryptocurrencies have surged into the market, and you can choose any of 
these. The best way to choose the right cryptocurrencies is to look at its market 
value and assess its performance. Some of the prominent choices are Bitcoin, 
Ethereum, Litecoin, XRP etc. 
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16.   What is the worst thing that can happen while using 
Cryptocurrency?
One of the worst things could be you losing your private keys. These are the 
passwords that secure your wallet, and once they are lost, you cannot recover 
them
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17.   What is the private key and public key?
Keys secure your cryptocurrency wallet; these are public key and private key. The 
public key is known to all, like your bank account number, on the hand, the private 
key is the password which protects your wallet and is only known to you. 
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18.   How much should one invest in Cryptocurrency?
Well, investing in Cryptocurrency is a matter of choice. You can study how the 
market is performing, and based on the best performing cryptocurrency, you can 
choose to invest. If you are new to this, then it's advisable that you must start 
small. 
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19.   From where can one buy Bitcoin using Fiat currency?
Two of the popular choices that you have are Coinbase and Binance, where you 
can purchase Cryptocurrency using fiat currency. 
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20.   Are the coins safe on exchanges?
All the exchanges have a high level of security. Besides, these are regularly 
updated to meet the security requirements, but it's not advisable to leave your 
coins on them since they are prone to attack. Instead, you can choose a hard 
wallet to store your cryptocurrencies, which are considered the safest. 
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21.   What determines the price of cryptocurrencies?
The price of cryptocurrencies is determined by the demand and supply in the 
market. Besides, how the market is performing also determines the price of 
cryptocurrencies.
 
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22.   What are some of the prominent cryptocurrencies terminologies?
There are jargons which are continuously used by people using cryptocurrencies 
are:
DYOR: Do Your Own Research
Dapps: Decentralized Applications
Spike: Shapr increase in the price of the Cryptocurrency
Pump:  Manipulated increase in the price of a cryptocurrency
Dump: Shapr decline in the price of Cryptocurrency
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23.   How can I check the value of cryptocurrencies?
Various platforms will give you an update on the price of cryptocurrencies. You 
can keep a tab on them and check the pricing of cryptocurrencies. 
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24.   What are the advantages of using digital currencies?
There are various advantages like you are saved from double-spending, the 
transactions are aster and secure. Moreover, digital currencies now have global 
acceptance.
 
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25.   What is the difference between cryptocurrencies and fiat 
currencies?
Cryptocurrencies are digital currencies which run on the Blockchain platform and 
are not governed by any government agencies, while the fiat currencies are the 
ones which are governed by authorities and government.
 
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25.   What is the difference between cryptocurrencies and fiat 
currencies?
Cryptocurrencies are digital currencies which run on the Blockchain platform and 
are not governed by any government agencies, while the fiat currencies are the 
ones which are governed by authorities and government.
Conclusion- This was all the FAQs pertaining to cryptocurrency, for more such 
information keep coming back to Blockchain Council.
 
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