What is the difference between magnetic strip credit cards and chip cards?

What is the difference between magnetic strip credit cards and chip cards?
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Chip cards are generally considered to be more secure than magnetic strip cards. To understand why, we need to understand how the two technologies work.A magnetic strip holds information about the card and the cardholder’s account. This is static information—it doesn’t change. Every time you use the card, it sends the same information to the card reader to authorize the purchase.Chip cards use an EMV chip. EMV stands for Europay, MasterCard, and Visa, the companies that developed the chip technology. Every time you use a chip card, the card creates a one-time identifier. That information is transmitted to the financial institution that issued the card, which can then verify that the card is legitimate.Put simply, EMV chip cards are safer. Each transaction generates a unique code, and count
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