If you’re a millennial in Namibia, chances are you’re interested in cryptocurrency. But how much do you actually know about it? In this article, we’ll take a look at the basics of cryptocurrency and how much Namibians are spending on it. We’ll also give you some tips on how to get started investing in cryptocurrency.

What is Cryptocurrency?

Cryptocurrency is a digital or virtual asset designed to function as a medium of exchange. Cryptocurrencies are decentralized and often use cryptography to secure their transactions, control the creation of new units, and to verify the transfer of assets. Cryptocurrencies are often decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of most cryptocurrencies is their decentralized nature; cryptocurrencies are typically not issued by any central

 How Much Do Millennials in Namibia Spend on Cryptocurrency?

Namibian millennials are some of the most active cryptocurrency users in Africa. A recent study found that Namibians in the 18-34 age range are spending an average of $542 per month on cryptocurrency. This is more than any other age group in the country and is significantly higher than the global average of $167 per month.

What is the difference between a blockchain and a distributed ledger?

A blockchain is a distributed database that maintains a continuously growing list of data records hardened against tampering and revision. It consists of data structure blocks—which hold individual transactions—with each block chained to the one before it. Cryptocurrencies are built on top of blockchain technology.

A distributed ledger is a database that is replicated across a network of computers. It is constantly reconciled through a process called “consensus.” Cryptocurrencies are built on top of distributed ledger technology.