What is crypto currency?

Crypto currency is money, and like money, it stores value and can be used to buy and sell goods. However, it improves on money in that it lives in an electronic universe and with that come a series of advantages (and some disadvantages too) that make it a popular choice.

Who Invented crypto currencies?

Cryptocurrency was invented by a man whose real identity is undisclosed. He is referred to by the pseudonym Satoshi Nakamoto. Mr. Nakamoto published a paper in 2008 describing how a digital currency could be supported, and in 2009, he released open-source software implementing his ideas and named it Bitcoin.

How is crypto currency different than regular currency and how is it better?

One of the main strengths of bitcoin is its ability to be transacted easily and freely over the web, and unlike traditional currency, there is no need for institutions to mediate any transaction. That eliminates time and expensive fees that usually represent a large portion of the cost of moving money. In other words, there is no “bank” that takes hefty fees every time you decide to make a payment or transfer.

Additionally, the value of cryptocurrencies (like Bitcoin) is strongly tied to economic fundamentals. Its maximum supply is known, and its demand is determined purely by market forces. There is no risk of devaluation resulting from entities manipulating supply, like the case of governments devaluing their currencies by printing and distributing it freely.