How cryptocurrency is made

Cryptocurrency is made through the mining process. Read “How cryptocurrency mining works”. The process is very expensive and time-consuming. As a reward for performing this costly yet critical task miners are rewarded with new cryptocurrency when they successfully perform their work. After receiving their rewards miners then spend their new currency which brings it into general circulation. Usually, (depending on the exact cryptocurrency) generation of these rewards is designed to occur at a fairly regular rate no matter how many miners are at work at the same time – this can make mining a very competitive process. Some currencies reduce the amount of the reward amount every few years. Many cryptocurrencies (like bitcoin) have a maximum number of coins which can ever be mined. Once that limit is reached no new coins will ever be mined again.