Know the Life Cycle of Cryptocurrency: An In-depth Look

In general, there are three types of cryptocurrencies – coins, exchanges and wallets. There are also whole bunches of trading platforms you can choose to purchase your cryptocurrency through, but for this article we will be focusing solely on cryptocurrency exchanges. Let’s start with the exchanges first. These exchanges act as a middle man for you to trade between your crypto coins with others. They allow you to make transactions such as buying or selling on your behalf or without the help of the cryptocurrency’s wallet. For example, if you are using an exchange platform Like Yuan Pay Group to buy Bitcoin you will send your bank details to the exchange, which then send your bank details to the seller. The life cycle of a cryptocurrency Cryptocurrency is a type of cryptocurrency in which its value is tied to the price of another asset. The supply of cryptocurrency is limited in the sense that the numbers of cryptocurrency units that can ever be created are limited by an algorithm...