What is a Cryptocurrency? + more videos | #aumsum #kids #science #education #children

It's AumSum Time. What is a Cryptocurrency? Forget it!! I am launching AumSum Currency!! Oh AumSum!! To buy AumSum merchandise visit AumSum.com. Simple stated, Cryptocurrency is a new form
of digital money. Bitcoin The first decentralized cryptocurrency was released in 2009. Many other cryptocurrencies like Ethereum,
Litecoin etc. have been created since. As compared to traditional money what sets
cryptocurrency apart is the blockchain technology behind them. In simple terms, blockchains are used for
recording transactions made with cryptocurrencies. They are extremely secure as the transactions are encrypted with 256-bit cryptographic keys. Some advantages of cryptocurrencies over traditional money are: They are more secure, transparent and incur
extremely less transaction fees. Cryptocurrencies are currently not legally
accepted everywhere. If they become legal, we will be able to use
them to pay for stuff just like we
do with traditional money..

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