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Are cryptocurrency and bitcoin the same thing?

  • Thread starter Thread starter Chizfab
  • Start date Start date
Chizfab said:
You have probably heard about cryptocurrency and bitcoin talked about in the same breath. What is the difference? Cryptocurrency is the overarching term for the entire category of digital currency. Bitcoin is the first, and still the most popular, form of cryptocurrency. Like leading brands in other industries (think Coke or Kleenex), bitcoin has become a term that is sometimes incorrectly used to refer to all cryptocurrency.

In addition to bitcoin, there are thousands of other cryptocurrencies on the market today. As of late 2020, there are north of 5,000 different types of these cryptocurrencies, referred to as “altcoins”. These coins get their name because they are an ALTernative to bitCOIN. These types of coins come in several different forms. Mining-based coins are similar to bitcoin and stablecoin are backed by a tangible asset like fiat currency to create less volatility. Other types of crypto currency include security tokens and utility tokens that function more like traditional stocks.
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Beautifully explained the concept of cryptocurrencies and Bitcoin g. General name for all the digital currencies is a cryptocurrency while Bitcoin is specific name of cryptocurrency, whose worth is highest and its trading is highest in the world of Crypto.
 
According to my intuitions, cryptocurrency is a general name.bitcoins, ethereum, tron etc all are classified under cryptocurrency.so to answer your question, bitcoin is a cryptocurrency, a very profitable one and the most popular.
 
Bitcoin is the name of the best-known cryptocurrency. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.
 
Bitcoin is part of the cryptocurrency family, and actually the most valuable and most popular of all cryptocurrencies. Cryptocurrency are a form of decentralized digital money used for online payments. There are other forms of cryptocurrencies aside bitcoin, they include ethereum, litecoin, dogecoin, XRP, tron coins, etc.
 
I think almost every one should have know about this by now, but if there are those who still have no idea of the difference then I think your write up have done more than enough justice to clarify any body that is still confuse about the concept
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I think almost every one should have know about this by now, but if there are those who still have no idea of the difference then I think your write up have done more than enough justice to clarify any body that is still confuse about the concept
 
cryptocurrency is a digital currency which uses encryption techniques for regulating the generation of units of currency while also verifying fund transfers.
Bitcoin is a cryptocurrency, which activates the encryption technique, which comes with no specific legal back up from the central bank. Moreover, it is an unregulated digital private currency.
 
Crypto currency and bitcoin don't mean the same. Crypto currencies is the general name given to all the alternative coins also known as the altcoins and bitcoin itself. So in reality bitcoin is also a form of crypto currency but because it's the leading crypto currency, many others confuse themselves about their differences.
 
according to my own point of view cryptocurrency and bitcoin are all the same thing is it's just that cryptocurrency is the general name for all the coin why Bitcoin is just a coin under cryptocurrency. There are many coin under cryptocurrency
 
Crypto currency is a general name if all digital currencies. Bit coin and crypto currency are not the same Bitcoin is still under the word crypto currency. Bitcoin was the first crypto that were amalgamated and since then it yielded to the most popular and well known crypto currency in the world.
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cryptocurrency is a digital currency which uses encryption techniques for regulating the generation of units of currency while also verifying fund transfers.
Bitcoin is a cryptocurrency, which activates the encryption technique, which comes with no specific legal back up from the central bank. Moreover, it is an unregulated digital private currency.
 
Chizfab said:
You have probably heard about cryptocurrency and bitcoin talked about in the same breath. What is the difference? Cryptocurrency is the overarching term for the entire category of digital currency. Bitcoin is the first, and still the most popular, form of cryptocurrency. Like leading brands in other industries (think Coke or Kleenex), bitcoin has become a term that is sometimes incorrectly used to refer to all cryptocurrency.

In addition to bitcoin, there are thousands of other cryptocurrencies on the market today. As of late 2020, there are north of 5,000 different types of these cryptocurrencies, referred to as “altcoins”. These coins get their name because they are an ALTernative to bitCOIN. These types of coins come in several different forms. Mining-based coins are similar to bitcoin and stablecoin are backed by a tangible asset like fiat currency to create less volatility. Other types of crypto currency include security tokens and utility tokens that function more like traditional stocks.
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This is clear and straight to the point. I see a lot of people think that Bitcoin is the only crypto currencies, I was once like that, but that's true. There are a lot of coins that are emerging at the moment with many even giving returns more than what we have with Bitcoin.
 
Bitcoin are a type of cryptocurrency. Cryptocurrency is a more general term for any digital currency that is traded digitally without any physical contact and that bitcoin is a part of. We have many types of cryptocurrency and these include : Bitcoin ITSELF,Euthereum, Trons, Dogecoin, Pi network, amongsr others. All these coins have tbjer own market value and may inflate or depreciate as the case may be.
 
Cryptocurrecy is the same as bitcoin explanation. Bitcoin is one example of crypto we have more that thousands of crypto in the world even it invented every day. Out of the numbers of crypto we have bitcoin is number one how? It is the first crypto known in the world which started in 2009. It was appreciated to the extent that it had turned to means of exchange among the ppl of the world either through p2p or changing to fiat money. The bitcoin is the one that carry all other crypto to extend that one bitcoin today is $45,000 which is highly unprecedented in the history of crypto in the world.
 
Cryptocurrency is the general name for all the different coins,bitcoin is just one of the coins under cryptocurrencies and the most popular coin.Before going into crypto investments make sure you go through tutorials to understand how it works.
 
Chizfab said:
You have probably heard about cryptocurrency and bitcoin talked about in the same breath. What is the difference? Cryptocurrency is the overarching term for the entire category of digital currency. Bitcoin is the first, and still the most popular, form of cryptocurrency. Like leading brands in other industries (think Coke or Kleenex), bitcoin has become a term that is sometimes incorrectly used to refer to all cryptocurrency.

In addition to bitcoin, there are thousands of other cryptocurrencies on the market today. As of late 2020, there are north of 5,000 different types of these cryptocurrencies, referred to as “altcoins”. These coins get their name because they are an ALTernative to bitCOIN. These types of coins come in several different forms. Mining-based coins are similar to bitcoin and stablecoin are backed by a tangible asset like fiat currency to create less volatility. Other types of crypto currency include security tokens and utility tokens that function more like traditional stocks.
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this is really a great post. For a while I have been thinking of something related to this. I hope I get the right answer the question bothering me. I hope people see the importance of this platform beyond the monetary value.
 
Chizfab said:
You have probably heard about cryptocurrency and bitcoin talked about in the same breath. What is the difference? Cryptocurrency is the overarching term for the entire category of digital currency. Bitcoin is the first, and still the most popular, form of cryptocurrency. Like leading brands in other industries (think Coke or Kleenex), bitcoin has become a term that is sometimes incorrectly used to refer to all cryptocurrency.

In addition to bitcoin, there are thousands of other cryptocurrencies on the market today. As of late 2020, there are north of 5,000 different types of these cryptocurrencies, referred to as “altcoins”. These coins get their name because they are an ALTernative to bitCOIN. These types of coins come in several different forms. Mining-based coins are similar to bitcoin and stablecoin are backed by a tangible asset like fiat currency to create less volatility. Other types of crypto currency include security tokens and utility tokens that function more like traditional stocks.
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Wow. This is real a nice and enlightening post. I hope replies on this post answers the question that have been bothering me. I think this is one good reason why platforms like the are really encouraged
 
I believe most persons already know what the difference between cryptocurrency and Bitcoin is.

Bitcoin is a type of cryptocurrency. Just like we have Etherum, Litecoin and other cryptocurrencies.
 
Chizfab said:
You have probably heard about cryptocurrency and bitcoin talked about in the same breath. What is the difference? Cryptocurrency is the overarching term for the entire category of digital currency. Bitcoin is the first, and still the most popular, form of cryptocurrency. Like leading brands in other industries (think Coke or Kleenex), bitcoin has become a term that is sometimes incorrectly used to refer to all cryptocurrency.

In addition to bitcoin, there are thousands of other cryptocurrencies on the market today. As of late 2020, there are north of 5,000 different types of these cryptocurrencies, referred to as “altcoins”. These coins get their name because they are an ALTernative to bitCOIN. These types of coins come in several different forms. Mining-based coins are similar to bitcoin and stablecoin are backed by a tangible asset like fiat currency to create less volatility. Other types of crypto currency include security tokens and utility tokens that function more like traditional stocks.
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Talking of the similarities between crypto currency and and bitcoin they may have the same method of fluctuation or liquidity and also there are other types of coin like you mentioned earlier the stable coin and the security tokens, utility tokens which have different functions
 
I agree with your opinion, that people often refer to Bitcoin as cryptocurrency as a whole, of course cryptocurrency is different from digital currency, because cryptocurrency works on the blockchain while digital currency works only with the internet, Cryptocurrency can be obtained by mining or staking, called a token because it does not have a blockchain itself, so the Token blockchain hitch a ride on other crypto blockchains like Ether, Tron etc.
 
Thanks so much for this wonderful information as my knowledge about crytocurrencies have been opened. Actually have traded some altcoins and I really understand this basically. The world is tending to digitalization even in currencies.
 
Cryptocurrencies encompass all including bitcoin and the altcoins. Many people ignorantly refer to crypto when they are really talking about bitcoin and the reason is because some only have knowledge of bitcoin with little or none of the others.
 
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