What is crypto currency, whether it is banned?

Question

I want to know what is crypto currency, having its a physical value or not. Why some countries banned it?

Answer 1

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.

The countries where bitcoin is never legally acceptable as a substitute for a country's tender are The United States of America, Canada, The European Union, Australia, Russia, Vietnam, Bolivia, Columbia and Ecuador.

Answer 2

A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. Some governments that have banned cryptocurrency have claimed that it is being used to funnel money to illegal sources and that the emergence of cryptocurrencies. However, here in Canada crypto investments are legal, and anyone can buy them through an exchange like netcoins.

Answer 3

Cryptocurrency is a digital currency example is bitcoin, Ethereum, Binance etc. The application of crypto currency depends on which country because there are different laws as to the use of cryptocurrency in different countries. But the benefits of cryptocurrency is that it is fast and devoid of checks and approvals.

Answer 4

A digital currency in which transaction are  verified and records and maintained by a decentralized system using crytptography rather than centralised authority

Answer 5

Cryptocurrencies are not a physical value. Overall, the definition of crypto currency is "a digital or virtual currency", but there is no definitive definition for this article. It is not banned by any country.

Answer 6

cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.

Answer 7

The countries where bitcoin is never legally acceptable as a substitute for a country's tender are The United States of America, Canada, The European Union, Australia, Russia, Vietnam, Bolivia, Columbia and Ecuador.