## What is crypto currency ![pexels-photo-5980861.jpeg](https://cdn.steemitimages.com/DQmcoLe2iZkScKYD4JXYTEEWJcSPDLLEmeC17tsH2mVBENg/pexels-photo-5980861.jpeg)[source](https://www.pexels.com/photo/paper-money-and-gold-coins-on-a-miniature-cart-5980861/) Crypto currency is a digital or virtual form of currency that uses cryptographic for security. Unlike traditional currencies issues by government (such as the us dollar or Euro) crypto currency operate on decentralized network based on block chain technology. Here are some key points about crypto currencies; - **Decentralisation;**Crypto currencies are typically not controlled any central authority, like a government or bank. - **Cryptography;** Advanced cryptographic techniques secure transaction, and control the creation of new units of the cryptocurrency. - **Digital nature;** This can be stored in digital wallet which can be software based or hardware based. - **Global accessibility;** Crypto currencies can be transferred and received across borders with relatives ease, making them potentially and valuable for international transactions. **Popular crypto currencies includes Bitcoin (BTC), Ethereum (ETH) and many other, each with its unique features and use cases.** ## Types of crypto currencies ![pexels-photo-7873548.jpeg](https://cdn.steemitimages.com/DQmSowfF5eSecR2mY3df9t9VGu27iGZwxzXK1Ym8wzkw3VM/pexels-photo-7873548.jpeg)[source](https://www.pexels.com/photo/cryptocurrency-application-on-a-cellphone-7873548/) The are thousands of crypto currencies in existence, each with its own unique features and purpose. Here are some of the most well known and widely used; - **Bitcoin (BTC);** Bitcoin is the first and most well known crypto currencies. It was created by an anonymous person or group of people using the pseudonym satoshi Nakamoto in gold and is primarily use as a store of value medium of exchange. - **Ethereum (ETH);** Ethereum is a block chain platform that allows developers to create decentralised application (DAPPS) and smart contract. - **Binance coins (BNB);** Binance coins is the native crypto currencies of the binance exchange,one of the largest crypto currency exchange in the world. _These are just few examples and explanation, and the are many other crypto currencies with various use cases and features._ ## Is crypto currency allowed on steemit platform ![pexels-photo-6771120.jpeg](https://cdn.steemitimages.com/DQmcWnLh7GMZg4nnzraSZegcTRPJTioWPFrd19NbqtWtb4p/pexels-photo-6771120.jpeg)[source](https://www.pexels.com/photo/paper-money-and-gold-coins-on-a-laptop-6771120/) Yes, due to my own understanding crypto currencies, specifically Steem (STEEM) and steem dollar (SBD),were an integral part of the Steemit platform. Users earned rewards in the form of these crypto currencies for their contributions to the platform. However the status of crypto currencies and platform like steemit and much more can change over time due to regulatory or policy updates. ## How to trade crypto currency? These are many questions people's ask goggle and many website"how can I trade crypto currency". Trading crypto currency involves buying and selling of digital assets like Bitcoin , Ethereum , and other online platform known as crypto currencies exchange. Here are a basic guide on how to get started; educate yourself, choose a reputable exchange, create and account, secure your wallet, deposit funds, choose your trading pairs, analyze the market, place order, monitored and managed trade,stay informed, practices risk management,tax considerations, continuous learning. ## Conclusion; ![pexels-photo-6780789.jpeg](https://cdn.steemitimages.com/DQmVhBew9M5a7JCuggD957SF7tG4ttBpvxBekqAsVeMTRPS/pexels-photo-6780789.jpeg)[source](https://www.pexels.com/photo/gold-coins-on-the-laptop-6780789/) Remember that crypto currency trading involved risk, and it's possible to lose money. I invite @bossj23 , and @deetalka6 to participate. Thanks for reading. Cc, @steem4nigeria