What is Cryptocurrency? | How Crypto Works

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The Binance Australia team are back to provide another video as part of the Crypto 101 series!

This video on Cryptocurrency covers all the basic concepts and works to have Crypto explained simply. Liam covers topics such as what is Cryptocurrency, what is cryptography in Crypto, is Crypto safe to buy and how do Crypto transactions work.

What this video covers:

Crypto explained for beginners:

Crypto is a technically complex topic. Put simply, Cryptocurrency is a digital asset with a primary function to work as a medium of exchange value within a peer-to-peer economic system. In this video, we explore how Crypto actually works.

Is Crypto safe in Australia:

If you’re new to Crypto, you may be wondering “is Crypto safe?” In this video, we explain how Cryptocurrency uses cryptography to verify and secure transactions this works to not only protect data from theft or alteration but can also be used for user authentication.

What is a node in Crypto:

Most cryptocurrencies are based on a decentralised network that are serviced by a distributed network of computers called nodes. This means that anyone with the internet can access and exchange digital assets.

How Crypto transactions work:

Unlike traditional bank transactions, crypto transactions are immutable, meaning the transactions are irreversible. Watch the video to find out more about how Crypto transactions work.

We hope you enjoyed watching the video. Don’t forget to like, comment and subscribe to our channel for more videos on the world of Cryptocurrency.

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Disclaimer:
This content is for general information purposes only, not investment advice. Cryptocurrencies, including Bitcoin, are volatile and fluctuate on a day-to-day basis, thus, trading requires proper diligence and sound judgement in order to evaluate the risks associated.

Nothing in this video constitutes investment or legal recommendation, nor should any data or content mentioned in the newsletter be relied upon for any investment activities. You should consider seeking independent legal, financial, taxation or other advice to check how the video content information relates to your unique circumstances.

Binance Australia is not affiliated, associated, endorsed by, or in any way officially connected with any individual or organisations mentioned in the video. Binance Australia is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly by use of this newsletter and expressly disclaims any and all liability for any loss or damage you may suffer.