Cryptos like Bitcoin, Theter, Litecoin, Dogecoin and others.
Cryptocurrencies are digital or virtual currencies that use cryptography for security and are decentralized, meaning they are not controlled by any single entity such as a bank or government. They operate on a decentralized network called a blockchain, which is a distributed ledger that records transactions on multiple computers.
Some of the most common cryptocurrencies that are used as payment methods include:
- Bitcoin: Bitcoin is the first and most widely used cryptocurrency. It was created in 2009 and has a limited supply of 21 million coins.
- Ethereum: Ethereum is a blockchain platform that allows developers to build and deploy decentralized applications. It also has its own cryptocurrency called Ether.
- Litecoin: Litecoin is a cryptocurrency that is similar to Bitcoin but has faster transaction times and a larger supply of coins.
- Ripple: Ripple is a cryptocurrency and a payment network that allows for fast, cheap, and reliable transactions. It is primarily used by financial institutions and has its own cryptocurrency called XRP.
- Tether: Tether is a cryptocurrency that is pegged to the value of a fiat currency such as the US dollar. It is designed to provide stability and can be used to facilitate cross-border transactions.