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Crypto-->View question

Help me with the lingo — crypto, coins, tokens, ICOs.

 Help me with the lingo — crypto, coins, tokens, ICOs.



Asked On2022-06-22 15:00:25 by:manastaneja

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Crypto is basically a short form of Cryptocurrency, which is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.

Coins are different kinds of cryptocurrency that exist online which you can buy or trade for other cryptocurrency.

A crypto token is a virtual currency token or a denomination of a cryptocurrency. It represents a tradable asset or utility that resides on its own blockchain and allows the holder to use it for investment or economic purposes.

ICOs or Initial Coin Offerings are another form of cryptocurrency that businesses use in order to raise capital. Through ICO trading platforms, investors receive unique cryptocurrency “tokens” in exchange for their monetary investment in the business. It is a means of crowdfunding through the creation and sale of a digital token to fund project development.


Answerd on:2022-07-14 Answerd By:AkshatSinha

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