Cryptocurrency: in a word, what is cryptocurrency? How to buy and earn with cryptocurrency?
What is Cryptocurrency?
The term “crypto” is a generic name for all virtual currencies that do not exist in a “paper” form, but only exist digitally in the form of programming code. The principle of cryptocurrency is based on peer-to-peer technology, where all users have a role of wallet holders of peer-to-peer cryptocurrency in a payment system. Cryptocurrencies have their own named unit, a “coin” with a specific value. Moreover, the number of each issued cryptocurrency is limited, which helps keep the cryptocurrency from being inflationary.
The topic of cryptocurrency is currently one of the most talked about in the world – cryptocurrency opens up many opportunities for everyone, not only as a disruptive payment system, but also as a Effective tool to make money. In this article, we will explain in plain language about cryptocurrencies, where to buy them, and how to make money with cryptocurrencies. The Most Popular Cryptocurrencies in the World like Bitcoin, Ethereum, Litecoin, XRP, ADA will be listed in most exchanges, on Primexbt they also give reputable crypto pairs to list.
No one can print the cryptocurrency, it is mainstream and decentralized; that is, there is no central authority of government and regulation that can issue and control cryptocurrency. This allows participants to anonymously and securely transfer money to anywhere in the world in just a few minutes, and without paying a third party fees. The production of cryptocurrency is done by the users of that currency themselves, called “miners,” and this mining is done through the computational processing of algorithmic tasks.
Bitcoin and other cryptocurrencies (altcoins)
Bitcoin was the first cryptocurrency developed in 2009. The rapid growth in popularity and demand has led to the emergence of new alternative cryptocurrencies, known as “altcoins.” The first people started making copies of Bitcoin by creating divergences (forks) – Bitcoin has an open source codebase, so anyone can create a new cryptocurrency by using Bitcoin as a platform and adding your own code. An example of such a currency is Litecoin, which is today dubbed the “silver” of the cryptocurrency market. However, there are also other altcoin coins like Ethereum that have completely new source codes and operating principles. Currently, Ethereum is the second largest currency after Bitcoin by market capitalization.
Cryptocurrencies can be purchased in dollars, rubles or euros on cryptocurrency exchanges or through online exchanges. After opening a virtual account, in a matter of seconds you can buy, sell, and exchange cryptocurrencies for other cryptocurrencies and banknotes.
there are many exchanges, let’s choose reputable exchanges like primexbt, binance, bittrex, coinbase, because a lot of exchanges are hacked, like btce, mt gox
see post: BTC-E exchange says Vinnik is not an employee and will refund money
Below I summarize the articles in order to provide basic Bitcoin knowledge so that you can approach and get started with Bitcoin more easily. Articles include: