How to buy Altcoin in Albania

Formal definition

According to Jan Lansky, a cryptocurrency is a system that meets six conditions:

In March 2018, the word cryptocurrency was added to the Merriam-Webster Dictionary.

Altcoins

Tokens, cryptocurrencies, and other types of digital assets that are not bitcoin are collectively known as alternative cryptocurrencies, typically shortened to “altcoins” or “alt coins”. Paul Vigna of The Wall Street Journal also described altcoins as “alternative versions of bitcoin” given its role as the model protocol for altcoin designers. The term is commonly used to describe coins and tokens created after bitcoin. The list of such cryptocurrencies can be found in the List of cryptocurrencies article.

Altcoins often have underlying differences with bitcoin. For example, Litecoin aims to process a block every 2.5 minutes, rather than bitcoin's 10 minutes which allows Litecoin to confirm transactions faster than bitcoin. Another example is Ethereum, which has smart contract functionality that allows decentralized applications to be run on its blockchain. Ethereum is the most-actively used blockchain in the world according to Bloomberg News and has the largest “following” of any altcoins according to the New York Times.

Significant rallies across altcoin markets are often referred to as an “altseason”.

Crypto token

A blockchain account can provide functions other than making payments, for example in decentralized applications or smart contracts. In this case, the units or coins are sometimes referred to as crypto tokens (or cryptotokens). Cryptocurrencies are generally generated by their own blockchain like Bitcoin and Litecoin whereas tokens are usually issued within a smart contract running on top of a blockchain such as Ethereum.

A cryptocurrency (or crypto currency or crypto for short) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency. Since the release of bitcoin, other cryptocurrencies have been created.

Albania ( a(w)l-BAY-nee-ə; Albanian: Shqipëri or Shqipëria), officially the Republic of Albania (Albanian: Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ionian Sea within the Mediterranean Sea, and shares land borders with Montenegro to the northwest, Kosovo to the northeast, North Macedonia to the east, Greece to the south; and maritime borders with Greece, Montenegro and Italy to the west. Tirana is its capital and largest city, followed by Durrës, Vlorë and Shkodër.

Geographically, Albania displays varied climatic, geological, hydrological, and morphological conditions, defined in an area of 28,748 km² (11,100 sq mi). It possesses significant diversity with the landscape ranging from the snow-capped mountains in the Albanian Alps as well as the Korab, Skanderbeg, Pindus and Ceraunian Mountains to the hot and sunny coasts of the Albanian Adriatic and Ionian Sea along the Mediterranean Sea.

Historically, Albania has been inhabited by numerous civilisations such as the Illyrians, Thracians, Ancient Greeks, Romans, Byzantines, Venetians and Ottomans. The Albanians established the autonomous Principality of Arbër in the 12th century. The Kingdom of Albania and Principality of Albania formed between the 13th and 14th centuries. Prior to the Ottoman conquest of Albania in the 15th century, the Albanian resistance to Ottoman expansion into Europe led by Gjergj Kastrioti Skanderbeg won them acclaim over most of Europe. Between the 18th and 19th centuries, cultural developments, widely attributed to Albanians having gathered both spiritual and intellectual strength, conclusively led to the Albanian Renaissance. After the defeat of the Ottomans in the Balkan Wars, the modern nation state of Albania declared independence in 1912. In the 20th century, the Kingdom of Albania was invaded by Italy which formed Greater Albania before becoming a protectorate of Nazi Germany. Enver Hoxha formed Communist Albania after World War II and launched the Albanians on a path of oppression and decades of isolation. The Revolutions of 1991 concluded the fall of communism in Albania and eventually the establishment of the current Republic of Albania.

Politically, Albania is a unitary parliamentary constitutional republic and a developing country with an upper-middle income economy dominated by the service sector, followed by manufacturing. It went through a process of transition following the end of communism in 1990, from centralized planning to a market-based economy. Albania provides universal health care and free primary and secondary education to its citizens. Albania is a member of the United Nations, World Bank, UNESCO, NATO, WTO, COE, OSCE, and OIC. It is an official candidate for membership in the European Union. It is one of the founding members of the Energy Community, including the Organization of the Black Sea Economic Cooperation and Union for the Mediterranean.