Wondering How does cryptocurrency works? And which cryptocurrency to invest in 2022?

Cryptocurrency is seen by many people as the most convenient era of exchange ever.

The way to think about cryptocurrencies is that it is 100% virtual. With crypto, it is just the transfer of digital assets. The core concept is the same, think of them as literally just running spreadsheets of who's paid what to who? but instead of multiple banks keeping their separate records with crypto, there is just one enormous spreadsheet of every transaction made using that currency and this is called a ledger.

But why is everyone going crypto crazy?

It is Decentralised. This means that while every transaction of a given cryptocurrency is all recorded on the same ledger there are many many copies of that ledger and anyone who is part of the network has one. You might have heard of Cryptocurrency mining. All that is someone who set up a computer to crunch through transactions on their copy of this ledger or spreadsheet.

So the result of this is that if I go into the store and spend 5 bitcoins then instead of checking with one bank's records the shop instead checks with every single computer on the network. every single one of them will update their records independently. so because you end up having this many copies of the exact same ledger it becomes very easy to tell if someone is trying anything fishy.

Like if someone tries to hack into someone’s computer who is on the network and tries to steal some money by adjusting figures on their copy of the ledger it's not going to get through. The system will realize that 99.% of the copies of the ledger are saying one thing but one of them is saying something else. so, must have been tampered with.

People believe in this because they see the future as open traceable transactions.

As we go through this I think you'll realize that for a lot of people in a way it is simpler. There are plenty of areas that have internet access but don’t have access to traditional banks which require a lot of paperwork and documentation.

The main perk of crypto is that you don’t need banks anymore because everything is stored by the people on this ledger.

You can make international payments instantly instead of it taking half a day with no spending limits. Plus you do not need to worry about exchange rates, interest rates, and even transaction fees that are close to zero.

Want to invest in crypto now? which cryptocurrency to invest in 2022?

If shareholders had a good year, crypto investors had a very bad 2021 year. The prices of cryptocurrencies have risen by 5,000-7,000%, resulting in disruptive returns for investors.

In India, the government has implemented legislation to regulate the use and trade of cryptocurrencies. The Cryptocurrency and Regulation of Official Digital Currency Bill were due to be debated during Parliament's winter session but controversy over farm debt prevented its introduction. The bill "seeks to curb all private equity funds in India.

For 2022, there have been some predictions on coins that will boost up your return on investment.

Top 5 coins to invest in 2022:

Bitcoin

Bitcoin is leading the crypto market by listing it as one of the top cryptocurrencies that will dominate in 2022. It is one of the top cryptocurrencies operating on the blockchain or logging chain that is distributed over a network of thousands of computers.

Moviebiz coin

MoviebizCoin is a platform where anyone can invest in movies by simply purchasing our coins and using them to invest in any movie you might think is a profit-making one.

Using blockchain technology, MovieBizCoin provides investors, actors, and directors access to fundraising for movies in the most decentralized way.

Why should you start investing in the Film Industry Right Now?

Ethereum

Ethereum is an open-source blockchain system with a cryptocurrency called Ether. ETH serves as a platform for some of the top cryptocurrencies to create smart divides divided across the country.

Solana

In 2021, Solana's price increased by 17,500% from the beginning. With a unique historical proof model, SOL has no losses in the digital currency market.

Litecoin

When it comes time to produce a Litecoin block for about 2.5 minutes each block and this transaction is faster and more secure than the Bitcoin network which takes 10 minutes to verify the transaction. It is one of the top cryptocurrencies that will rule in 2022.