When Bitcoin launched in 2009, it didn’t have much — or any — competition in the newly minted realm of digital currency. By 2011, though, new types of cryptocurrency began to emerge as competitors adopted the blockchain technology bitcoin was built on to launch their own platforms and currencies. Suddenly the race to create more crypto was on.

Today there are thousands of different types of cryptocurrency, and while each is designed to provide some new feature or function, most are founded on similar principles to those that established bitcoin:

• Cryptocurrencies are not issued, regulated, or backed by a central authority like a bank.

• They are created using a distributed ledger (blockchain) and peer-to-peer review.

• Bitcoin and other coins are encrypted (secured) with specialized computer code called cryptography.

• As assets, cryptocurrencies are generally stored in digital wallets, commonly a blockchain wallet, which allows users to manage and trade their coins.

Today, the process of buying and selling and exchanging cryptocurrencies has been significantly simplified. There are many online exchangers that users can use 24/7. Using the BestChange service, choosing the right exchanger to buy or sell bitcoin https://www.bestchange.com/bitcoin-to-paypal-usd.html and other cryptocurrencies is very quick and easy. It contains information from more than 440 exchangers.