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What is a cryptocurrency?

Cryptocurrency or cryptocurrency (Saxon cryptocurrency) is a virtual currency that serves to exchange goods and services through electronic transaction systems without the need to pass through any intermediary. The first cryptocurrency to be traded was Bitcoin in 2009, and many others have emerged since then, with other features such as Litecoin, Ripple, Dogecoin and others.
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What is the advantage?

When we compare cryptocurrency with money in the ticket, the difference is that:

They are decentralized: they are not under the control of the bank, the government and any financial institution
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Are you anonymous: your privacy is preserved when conducting transactions

They are international: everyone washes with them

They are sure: your coins are yours and from no one else, they are kept in a personal wallet with non-transferable codes that only you know

No intermediaries: transactions are performed from person to person
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Fast transactions: interest is charged for sending money to another country and confirmation days are often required; with cryptocurrencies just minutes.

Non-refundable transactions.

Bitcoins and any other virtual currency can be exchanged for any world currency

They cannot be falsified because they are encrypted with a sophisticated cryptographic system

Unlike currencies, the value of electronic currencies is subject to the oldest rule of the market: supply and demand. “It currently has a value of more than $ 1,000 and as stocks, this value can go up or down in relation to supply and demand.
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What is the origin of Bitcoin?

Bitcoin is the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency

Its special feature is that you can perform operations only within the network.

Bitcoin refers to both the currency and the protocol and the red P2P it relies on.

So what is Bitcoin?
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Bitcoin is a virtual and intangible currency. That is, you can’t touch any of its shapes like coins or banknotes, but you can use it as a means of payment in the same way as these.

In some countries, you can cash in using an electronic debit card site that exchanges money with cryptocurrencies such as XAPO. In Argentina, for example, we have more than 200 bitcoin terminals.
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Undoubtedly, what distinguishes Bitcoin from traditional currencies and other virtual means of payment such as Amazon Coins, Action Coins, is decentralization. Bitcoin is not controlled by any government, institution, or financial entity, whether public or private, such as the euro, which is controlled by the Central Bank, or the dollar by the United States Federal Reserve.
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In Bitcoin, they control real, indirectly through their transactions, users through P2 P (Point to Point or Point to Point) exchanges. This structure and lack of control make it impossible for any government to manipulate its value or to provoke inflation by producing larger quantities. Its production and value are based on the law of supply and demand. Another interesting detail in Bitcoin is the limit of 21 million coins, which will be reached in 2030.
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How much is Bitcoin worth?

As we have pointed out, the value of Bitcoin is based on supply and demand, and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time. Currently, the price of Bitcoin is 9,300 USD (as of March 11, 2018), although this value is not much less stable and Bitcoin is classified as the most unstable currency in the foreign exchange market.
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If you thought you missed the Internet profit revolution, try cryptocurrency

When most people think of cryptocurrency, they might think of cryptocurrency. Very few people seem to know what it is and for some reason everyone seems to talk about it as if they know. We hope that this report will demystify all aspects of cryptocurrency so that by the time you finish reading you will have a pretty good idea of ​​what it is and what it is about.
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You may find that cryptocurrency is for you, and you may not, but at least you will be able to speak with a degree of security and knowledge that others will not possess.

There are many people who have already reached the status of millionaires dealing with cryptocurrencies. It is clear that there is a lot of money in this completely new industry.
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Cryptocurrency is an electronic currency, short and simple. However, what is not so short and simple is how it has value.

Cryptocurrency is a digitized, virtual, decentralized currency produced using cryptography, which, according to Merriam Webster’s dictionary, is “computerized encoding and decoding of information.” Cryptography is the basis that enables debit cards, computer banking and eCommerce systems.

Banks do not support cryptocurrency; it is not supported by the government, but by an extremely complicated schedule of algorithms. Cryptocurrency is electricity that is encoded into complex arrays of algorithms. What gives monetary value is their intricacy and security from hackers. The way cryptocurrency is made is simply too difficult to reproduce.

Cryptocurrency is in direct contrast to what is called fiat money. Fiat money is a currency that gets its value based on a government decision or law. The dollar, yen and euro are all examples. Any currency that is defined as legal tender is fiat money.
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Unlike fiat money, the other part of what makes cryptocurrency valuable is that, like commodities like silver and gold, there is only a limited amount. Only 21,000,000 of these extremely complex algorithms have been produced. No more, no less. It cannot be changed by printing more, just as the government prints more money to inflate a system without support. Or by the bank changing the digital book, something the Federal Reserve will instruct banks to do to adjust to inflation.

Cryptocurrency is a means of buying, selling and investing that completely avoids government supervision and banking systems that track the movement of your money. In a destabilized world economy, this system can become a stable force.
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Cryptocurrency also gives you a great deal of anonymity. Unfortunately, this can lead to misuse by a criminal element that uses cryptocurrency for its own purposes, just as ordinary money can be misused. However, it can also prevent the government from monitoring your every purchase and violating your personal privacy.
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Cryptocurrency comes in several forms. Bitcoin was the first and is the standard by which all other cryptocurrencies are made. All are produced by meticulous alpha-numerical calculations from a complex coding tool. Some other cryptocurrencies are Litecoin, Namecoin, Peercoin, Dogecoin and Worldcoin, to name a few. They are called altcoins as a generalized name. The prices of each of them are regulated by the supply of a certain cryptocurrency and the demand that the market has for that currency.

The way cryptocurrency is created is quite fascinating. Unlike gold, which must be mined from the ground, cryptocurrency is just an entry in a virtual book that is stored in various computers around the world. These entries must be ‘excavated’ using mathematical algorithms. Individual users or, more likely, a group of users perform computational analysis to find specific data series, called blocks. ‘Miners’ find data that produces an accurate pattern for a cryptographic algorithm. At that point they applied to the series and they found a block. After the equivalent data series on the block matches the algorithm, the data block is unencrypted. The miner received a reward from a certain amount of cryptocurrency. As time goes on, the amount of the reward decreases as the cryptocurrency becomes smaller. In addition, the complexity of algorithms in search of new blocks has increased. Computing, it becomes harder to find the right series. Both of these scenarios come together to reduce the speed of cryptocurrency creation. This mimics the difficulty and scarcity of excavating goods like gold.

Now, anyone can be a miner. The originators of Bitcoin created an open source mining tool, so it is free for everyone. However, the computers they use work 24 hours a day, seven days a week. The algorithms are extremely complex and the CPU runs at full tilt. Many users have specialized computers made specifically for cryptocurrency mining. Both the user and the specialized computer are called miners.

Miners (people) also keep transaction books and act as auditors so that the coin does not multiply in any way. This prevents system hacking and rabies. They are paid for this job by receiving a new cryptocurrency every week while maintaining their work. They store their cryptocurrency in specialized files on their computers or other personal devices. These files are called wallets.

Let’s summarize by going through a few definitions we’ve learned:

• Cryptocurrency: electronic currency; it is also called digital currency.

• Fiat money: any legal tender; supported by the state, is used in the banking system.

• Bitcoin: the original and gold standard of cryptocurrency.

• Altcoin: other cryptocurrencies that are based on the same processes as Bitcoin, but with small variations in their coding.

• Miners: an individual or group of individuals who use their own resources (computers, electricity, space) to mine digital coins.

o Also a specialized computer made especially for finding new coins through computer series of algorithms.

• Wallet: a small file on your computer where you store your digital money.

Conceptualization of the cryptocurrency system in brief:

• Electronic money.

• Dig individuals who use their own resources to find coins.

• Stable, finite currency system. For example, there are only 21,000,000 bitcoins produced for all time.

• Does not require the government or the bank to do so.

• The price is decided by the amount of coins found and used in combination with the public’s demand to own them.

• There are several forms of cryptocurrency, with Bitcoin coming first.

• It can bring great wealth, but, like any investment, it carries risks.

Most people find the concept of cryptocurrency fascinating. It is a new field that could be the next gold mine for many of them. If you find that cryptocurrency is something you would like to know more about, then you have found the right report. However, I barely touched the surface in this report. There is much, much more about cryptocurrency than what I went through here.

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Cryptocurrency for beginners

In the first days of its launch in 2009, several thousand bitcoins were used to buy pizza. Since then, the meteoric rise in cryptocurrency to $ 65,000 in April 2021, after a staggering 70 percent drop to about $ 6,000 in mid-2018, has baffled many people – cryptocurrency investors, traders or simply the curious who missed the ship.

How it all started

Keep in mind that dissatisfaction with the current financial system has led to the development of the digital currency. The development of this cryptocurrency is based on the blockchain technology of Satoshi Nakamoto, a pseudonym apparently used by a programmer or a group of developers.

Despite many opinions predicting the death of cryptocurrency, the performance of bitcoin has inspired many other digital currencies, especially in recent years. The success with crowdfunding brought about by blockchain fever has also attracted those to deceive the unsuspecting public and this has attracted the attention of regulators.
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Outside of bitcoin

Bitcoin has inspired the launch of many other digital currencies. There are currently more than 1,000 versions of digital coins or tokens. Not all are the same and their values ​​are very different, as is their liquidity.

Coins, altcoins and tokens

At this point, suffice it to say that there are fine differences between coins, altcoins and tokens. Altcoins or alternative coins generally describe anything other than pioneering bitcoin, although altcoins such as ethereum, litecoin, ripple, dogecoin and dasha are considered the ‘main’ category of coins, meaning they are traded on multiple cryptocurrency exchanges.

Coins serve as currency or a storehouse of value, while tokens offer the use of assets or useful assets, an example being a blockchain supply chain management service to validate and track wine products from the winery to the consumer.

It is important to note that low-value tokens or coins offer opportunities to increase, but do not expect similar meteoric increases as bitcoin. Simply put, lesser-known tokens are easy to buy, but difficult to sell.

Before embarking on cryptocurrency, start by studying the value proposition and technological considerations, or commercial strategies listed in the White Paper that accompanies each initial coin offering or ICO.

For those familiar with stocks and stocks, this is no different than an initial public offering or IPO. However, IPOs are issued by companies with tangible assets and business experience. Everything is done in a regulated environment. On the other hand, the ICO is based solely on the idea proposed in the White Paper by a company – which has yet to operate and without assets – seeking funding to start up.

Unregulated, so customers beware

‘What is unknown cannot be regulated’ probably sums up the situation with digital currency. Regulators and regulations are still trying to keep up with cryptocurrencies that are constantly evolving. The golden rule in crypto space is ‘caveat emptor’, let the customer beware.
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Some countries keep an open mind by adopting a hands-free policy for cryptocurrencies and blockchain applications, while keeping an eye on open scams. However, there are regulators in other countries who are more concerned with the disadvantages than the advantages of digital money. Regulators generally understand the need to strike a balance and some look to existing securities laws to try to control many types of cryptocurrencies globally.

Digital wallets: the first step

A wallet is necessary to start working with cryptocurrency. Consider electronic banking, but without the protection of the law in the case of virtual currency, so that security is the first and last thought in the crypto space.

The wallets are of the digital type. There are two types of wallets.

  • Internet-related hot wallets that put users at risk of hacking
  • Cold wallets that are not connected to the Internet and are considered safer.

In addition to the two main types of wallets, it should be noted that there are wallets for only one cryptocurrency and others for multiple cryptocurrencies. There is also the option to have a wallet with multiple signatures, somewhat similar to a joint bank account.

The choice of wallet depends on whether the user is interested in bitcoin or ethereum, because each coin has its own wallet, or you can use a third-party wallet that includes security features.

Notes in the wallet

The cryptocurrency wallet has a public and private key with personal transaction records. The public key includes a reference to the account or cryptocurrency address, as opposed to the name required to receive payment by check.

The public key is available for everyone to see, but transactions are confirmed only after verification and validation based on a consensus mechanism relevant to each cryptocurrency.

A private key can be considered a PIN commonly used in e-financial transactions. It follows that the user should never give away a private key to anyone and make backup copies of this data to be stored offline.

It makes sense to have a minimum amount of cryptocurrency in a hot wallet, while a larger amount should be in a cold wallet. Losing a private key is just as good as losing your cryptocurrency! The usual precautions apply to online financial transactions, from having strong passwords to being wary of malware and phishing.

Wallet formats

Different types of wallets are available to suit individual preferences.

  • Third party hardware wallets that must be purchased. These devices work as a USB device that is considered secure and connected only when needed to the Internet.
  • Web-based wallets provided by, for example, crypto exchanges are considered hot wallets that put users at risk.
  • Wallets based on desktop or mobile software are generally available for free and can be provided by coin issuers or third parties.
  • Wallets on paper can be printed with relevant data on cryptocurrency owned with public and private keys in QR code format. They should be kept in a safe place until they are required during a crypto transaction, and copies should be made in the event of an accident such as water damage or printed data that fades over time.

Crypto exchanges and markets

Crypto exchanges are trading platforms for those who are interested in virtual currencies. Other options include websites for direct trade between buyers and sellers, as well as brokers where there is no ‘market’ price, but it is based on a compromise between the parties to the transaction.

So, there are many crypto exchanges located in different countries, but with different standards of security practices and infrastructure. They range from those that allow anonymous registration that only requires email to open an account and start trading. However, there are others that require users to adhere to international authentication, known as Know-Your-Customer, and anti-money laundering measures (AML).

The choice of cryptocurrency exchange depends on the preferences of the users, but anonymous ones may have restrictions on the allowed volume of trading or may be subject to sudden new regulations in the country of the domicile market. Minimum administrative procedures with anonymous registration allow users to start trading quickly, while going through KYC and AML processes will take longer.

All cryptocurrencies must be properly processed and verified, which can take from a few minutes to a few hours, depending on the coins or tokens being performed and the volume of the trade. Scalability is known to be a problem with cryptocurrencies and developers are working on ways to find a solution.

Cryptocurrency exchanges are in two categories.

  • Fiat-cryptocurrency Such exchanges allow the purchase of fiat-cryptocurrency through direct transfers from bank or credit and debit cards, or through ATMs in some countries.
  • Only cryptocurrencies. There are cryptocurrencies that deal only with cryptocurrencies, which means that customers already have to own a cryptocurrency – such as bitcoin or ethereum – to ‘exchange’ for other coins or tokens, based on the market rate

Fees are charged to facilitate the purchase and sale of cryptocurrencies. Users should do a survey to be satisfied with the infrastructure and security measures, as well as to determine the fees that suit them given the different rates charged by the various stock exchanges.

Don’t expect the usual market price for the same cryptocurrency with exchange differences. It might be worth spending time researching the best price of coins and tokens that interest you.

Financial transactions online carry risks and users should heed warnings such as two-factor authentication or 2-FA, keep abreast of the latest security measures and be aware of phishing scams. One golden rule for identity theft is not to click on the links provided, no matter how authentic the message or email is.

Cryptocurrency volatility, profitable slide

This year we can notice that cryptocurrencies tend to move up and down even by 15% of the value on a daily basis. Such price changes are known as volatility. But what if … this is perfectly normal and sudden changes are one of the characteristics of cryptocurrencies that allow you to make good money?

First of all, cryptocurrencies have come into the mainstream very recently, so all the news about them and rumors is “hot”. After each statement of civil servants about the possible regulation or prohibition of the cryptocurrency market, we notice large price movements.

Second, the nature of cryptocurrencies is more like a “store of value” (as gold was in the past) – many investors see them as a reserve investment option for stocks, physical assets such as gold and fiat (traditional) currencies. Baud rate also affects cryptocurrency volatility. For the fastest, the transfer takes only a few seconds (up to a minute), which makes them a great tool for short-term trading, if there is currently no good trend on other types of assets.

What everyone should keep in mind – this speed also applies to cryptocurrency lifecycle trends. While in regular markets trends can last for months or even years – here it takes place in a couple of days or hours.

This brings us to the next point – although we are talking about a market worth hundreds of billions of US dollars, it is still a very small amount compared to the daily trading volume compared to the traditional currency market or stocks. Therefore, an investor who makes a transaction of 100 million on the stock exchange will not cause a huge change in price, but on the scale of the cryptocurrency market, this is a significant and noticeable transaction.

As cryptocurrencies are digital assets, they are subject to technical and software updates to cryptocurrency features or the expansion of blockchain collaboration, making it more attractive to potential investors (such as activating SegWit basically caused Bitcoin to double in value).

Combined, these elements are the reasons why we observe such large changes in the prices of cryptocurrencies within a few hours, days, weeks, etc.

But the answer to the first paragraph question – one of the classic trading rules is to buy cheap and sell expensive – so having short but strong trends every day (instead of weaker ones lasting weeks or months like stocks) gives you a much better chance of making a decent profit. if used properly.

5 Benefits of Cryptocurrency Trading

When it comes to cryptocurrency trading, you have to guess whether the market you have chosen will grow or fall in value. And the interesting thing is that you never own digital assets. In fact, derivatives are traded such as CFDs. Let’s look at the benefits of cryptocurrency trading. Read on to find out more.

Volatility

Although cryptocurrency is a new market, it is quite unstable due to short-term speculative interest. The price of bitcoin fell to $ 5,851 from $ 19,378 in 2018, in just one year. However, the value of other digital currencies is fairly stable, which is good news.

What makes this world so exciting is the volatility of cryptocurrency values. Price movements offer many opportunities for traders. However, this also carries a high risk. Therefore, if you decide to research the market, just make sure you research and put together a risk management strategy.

Business hours

The market is usually open for 24/7 trade because it is not regulated by any government. Moreover, transactions are conducted between buyers and sellers around the world. There may be short downtime when the infrastructure is updated.

Improved liquidity

Liquidity refers to how quickly digital currency can be sold for cash. This feature is important because it allows for shorter transaction times, better accuracy and better prices. In general, the market is somehow illiquid because financial transactions take place on different stock exchanges. Thus, small shops can bring big changes in prices.

Leverage exposure

Since CFD trading is considered a leverage product, you can open a position on what we call “margin”. In this case, the value of the deposit is part of the value of the trade. So you can enjoy great exposure to the market without investing a lot of money.

The loss or gain will reflect the value of the position at the time of its closing. Therefore, if you trade on the margins, you can make a huge profit by investing a small amount of money. However, it also increases losses that can exceed your deposit in the trade. Therefore, make sure to consider the total value of the position before investing in CFDs.

It is also important to ensure that you follow a solid risk management strategy, which should include appropriate restrictions and stops.

Quick account opening

If you want to buy cryptocurrencies, make sure you do it through an exchange office. All you have to do is sign up for a currency account and keep the currency in your wallet. Keep in mind that this process can be restrictive and time consuming and labor intensive. However, once the order is created, the rest of the process will be fairly smooth and hassle-free.

In short, these are some of the most prominent benefits of cryptocurrency trading here and now. We hope you find this article very helpful.

Things that look positive for cryptocurrencies

Although there have been market corrections in the cryptocurrency market in 2018, everyone agrees that the best is yet to come. There have been many activities in the market that have changed the tide for the better. With the right analysis and the right dose of optimism, anyone who is invested in the crypto market can earn millions of it. The cryptocurrency market is here to stay in the long run. Here in this article, we give you five positive factors that can spur further innovation and the market value of cryptocurrencies.

1. Innovation in scaling

Bitcoin is the first cryptocurrency on the market. It has the maximum number of users and the highest value. It dominates the entire value chain in the cryptocurrency system. However, it is not without problems. Its main bottleneck is that it can only process six to seven transactions per second. By comparison, average credit card transactions are several thousand per second. Obviously, there is room for improvement in transaction scaling. With the help of peer to peer transaction networks at the top of blockchain technology, it is possible to increase the volume of transactions per second.

2. Legitimate ICO

Although there are cryptococins on the market with a stable value, newer coins are being created that are designed to serve a specific purpose. Coins like IOTA are meant to help the Internet of Things market in the exchange of power currencies. Some coins address the issue of cyber security by providing encrypted digital vaults to store money.

The new ICOs come with innovative solutions that disrupt the existing market and bring new value in transactions. They also gather market authority through their easy-to-use exchanges and reliable backend operations. They are innovating both on the technological side in terms of the use of specialized hardware for mining and on the side of the financial market, giving more freedom and opportunities to investors in exchange.

3. Clarity of regulation

In the current scenario, most governments are studying the impact of cryptocurrencies on society and how its benefits can be realized for the community as a whole. We can expect reasonable conclusions from the study results.

Several governments are already going through the legalization and regulation of the crypto market like any other market. This will prevent uninformed retail investors from losing money and protect them from harm. Appropriate regulations that promote cryptocurrency growth are expected to appear in 2018. This will potentially pave the way for widespread adoption in the future

4. Increase application

There is tremendous enthusiasm for the application of blockchain technology in almost every industry. Some startups come with innovative solutions such as digital wallets, cryptocurrency debit cards, etc. This will increase the number of merchants willing to conduct transactions in cryptocurrencies which in turn increases the number of users.

The reputation of crypto assets as a transaction medium will be strengthened as more and more people trust this system. While some startups may not survive, they will make a positive contribution to overall market health by creating competition and innovation.

5. Investments of financial institutions

Many international banks are following the cryptocurrency scene. This can lead to institutional investors entering the market. The influx of significant institutional investment will spur the next phase of crypto market growth. He has occupied many banks and financial institutions.

As surprises and bottlenecks around cryptocurrencies diminish, traditional investors will increasingly accept. This will lead to a lot of dynamism and liquidity that is necessary for all growing financial markets. The cryptocurrency will become the de facto currency for transactions around the world.

Multilayer cryptocurrency

Questions have arisen as to whether bitcoin is turning into a multi-layered system. Well, the answer is yes. This article seeks to outline the different layers on which bitcoin lies. It’s all yours!

Have you heard of those who call bitcoin digital gold? It is clear that cryptocurrency is fast becoming more popular and accepted in the crypto world. It is estimated that the value of the coin will grow. However, it is also noted that a coin can gain or lose 50% of its value overnight. This causes speculation among investors, but the coin is still “digital gold”. And when asked if bitcoin is a multi-layered system, you should know that bitcoin exists on two main layers. These are the mining and semantic layers.

Mining layer

This is the layer in which the coin is created. In addition to bitcoin, ether is also created in this layer. After creating the coin, the valid blocks of bitcoin are transferred to the book. This is where currency generation is complete. It should be noted that currency is generated from transactions contained in bitcoin blocks. Blocks are known as transaction fees. Currency can also be generated from the network itself, or you can say “thin air”. The main advantage of generating currency from the grid is that it gives incentives to miners.

Semantic layer

This provides a very important platform. The semantic layer is the layer in which bitcoins are used as a means of payment. It also provides a platform for bitcoins to be used as a storehouse of value. The layer seems very important, doesn’t it? Bitcoin currency owners sign valid transactions that signal the start of bitcoin transfers between nodes on the semantic layer. Transfer can also be made possible by creating smart contracts. Smart contracts transfer coins between different accounts.

Lightning network

You probably haven’t heard of the lightning net. This is the latest invention introduced by the bitcoin community. This layer will have the ability to run over bitcoin. With this invention, there will be an application layer that is on top of bitcoin. It will be so exciting. The most interesting aspect is that its value can also be used for payment. This will be made possible by the transfer of its value between people. With the invention of the Lightning network, bitcoin will become a transport layer, as well as an application layer.

To date, the value of bitcoin is estimated at about $ 9 billion. It is also known that bitcoin is a decentralized cryptocurrency. This means that it works without the control of the bank or the administrator. Bitcoin is certainly taking over the crypto world.

It is also important that the technology used during bitcoin mining is called blockchain technology. It works by allowing digital information to be distributed, not copied. Crypto is a really exciting topic and bitcoins could overtake our mainstream currencies in the near future.

Which cryptocurrencies are good to invest in?

This year, the value of bitcoin has jumped, even over one golden ounce. There are also new cryptocurrencies on the market, which is even more surprising as it brings the value of cryptocurrencies up to more than one hundred billion. On the other hand, the long-term outlook for cryptocurrencies is somewhat blurred. There are quarrels due to the lack of progress among its main developers, which makes it less attractive as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market capitalization of about $ 41 billion and has existed for the past 8 years. Around the world, Bitcoin is widely used and so far it has not been easy to exploit weaknesses in the method it works on. Both as a payment system and as a stored value, Bitcoin allows users to easily receive and send bitcoins. The blockchain concept is the foundation on which Bitcoin is based. It is necessary to understand the concept of blockchain in order to gain insight into what cryptocurrencies are about.

Simply put, a blockchain is a database distribution that stores each network transaction as a piece of data called a “block”. Every user has blockchain copies so when Alice sends 1 bitcoin Mark, every person online knows it.

Litecoin

One alternative to Bitcoin, Litecoin is trying to solve many of the problems that hinder Bitcoin. It’s not quite as resilient as Ethereum with its value stemming mostly from the adoption of solid users. It is worth noting that Charlie Lee, a former Google employee, runs Litecoin. He also practices transparency with what he does with Litecoin and is quite active on Twitter.

Litecoin has been Bitcoin’s second instrument for some time, but things started to change in early 2017. First, Coinbase adopted Litecoin along with Ethereum and Bitcoin. Then, Litecoin solved the Bitcoin problem by adopting Segregated Witness technology. This gave him the capacity to reduce transaction fees and do more. The deciding factor, however, was when Charlie Lee decided to focus exclusively on Litecoin and even left Coinbase, where he was director of engineering, for Litecoin only. As a result, the price of Litecoin has risen in recent months, and its strongest factor is the fact that it could be a real alternative to Bitcoin.

Ethereum

Vitalik Buterin, a superstar developer, designed Ethereum, which can do everything Bitcoin can do. However, its purpose is primarily to be a platform for building decentralized applications. Blockchains are what make the differences between them. Basically, the Bitcoin blockchain records the type of contract, one that states whether funds have been moved from one digital address to another. However, there is a significant expansion with Ethereum because it has a more advanced language script and a more complex, wider range of applications.

Projects began to emerge at the top of Ethereum when developers began to notice its better qualities. Through the mass sale of tokens, some have even raised millions of dollars, a trend that continues to this day. The fact that you can do wonderful things on the Ethereum platform makes it almost like the internet itself. This has caused a dizzying rise in prices, so if you bought Ethereum for $ 100 earlier this year, it wouldn’t be estimated at nearly $ 3,000.

Money

Monero aims to solve the problem of anonymous transactions. Even if this currency is considered a money laundering method, Monero aims to change that. Basically, the difference between Monera and Bitcoin is that Bitcoin has a transparent blockchain with every transaction public and recorded. With Bitcoin, anyone can see how and where money is moved. However, there is some somewhat imperfect anonymity of Bitcoin. In contrast, Monero has an opaque rather than transparent method of transaction. No one is completely sold by this method, but since some people like privacy for any purpose, Monero is here to stay.

Zcash

Unlike Monera, Zcash also aims to solve the problems that Bitcoin has. The difference is that Monero, instead of being completely transparent, is only partially public in its blockchain style. Zcash also aims to solve the problem of anonymous transactions. After all, no person likes to show how much money they actually spent on Star Wars souvenirs. So, the conclusion is that this type of cryptocurrency really has an audience and demand, although it is difficult to point out which cryptocurrency that focuses on privacy will eventually reach the top of the crowd.

Bancor

Also known as a “smart token,” Bancor is the standard of a new generation of cryptocurrencies that can hold more than one token in reserve. Basically, Bancor tries to facilitate the trading, management and creation of tokens by increasing their level of liquidity and allowing them to have an automated market price. At the moment, Bancor has a front-end product that includes a wallet and smart token creation. There are also functions in the community such as statistics, profiles and discussions. In short, the Bancor Protocol enables the discovery of the embedded price as well as the liquidity mechanism for smart contract tokens through the innovation reserve mechanism. Through a smart contract, you can immediately liquidate or buy any of the tokens in the Bancora reserve. With Bancor, you can easily create new cryptocoins. Who wouldn’t want that now?

EOS

Another competitor to Ethereum, EOS promises to solve the problem of scaling Ethereum by providing a set of tools that are more robust for running and creating applications on the platform.

Theses

An alternative to Ethereum, Tezos can be upgraded by agreement without too much effort. This new blockchain is decentralized in the sense that it is self-governing through the establishment of a digital true Commonwealth. It facilitates a mathematical technique called formal verification and has features that increase the security of the most financially sensitive smart contract. Definitely a great investment in the coming months.

Verdict

It is incredibly difficult to predict which Bitcoin will become the next superstar on the list. However, user adoption has always been a key success factor when it comes to cryptocurrencies. Both Ethereum and Bitcoin have it, and even if there is great support from early users of every cryptocurrency on the list, some have yet to prove their endurance. Still, these are the ones to invest in and look out for in the coming months.

What is a cryptocurrency? Here’s what you should know

Cryptocurrency is a type of digital currency that you can use to buy goods and services. For secure transactions, cryptocurrencies depend on an extremely complex online book. Millions of people around the world are investing in these unregulated currencies to make a profit. Of all these popular cryptocurrencies, Bitcoin is at the top of the list. In this article, we will go deeper into cryptocurrencies. Read on to find out more.

1. What is a cryptocurrency?

Basically, you can pay via cryptocurrency to buy goods or services online. Today, several companies published their own cryptocurrency. Known as tokens, they can be traded for goods and services. You can think of them as casino chips or arcade chips. You can use your real currency to buy cryptocurrency to perform these transactions.

To verify transactions, cryptocurrencies use a state-of-the-art system known as blockchain. This decentralized technology is powered by many computers that are programmed to manage and record transactions. Security is the best thing about this technology.

2. What is the value of cryptocurrency?

Today there are over 10,000 types of cryptocurrencies. They are also traded worldwide, according to CoinMarketCap reports. So far, the value of all cryptocurrencies on the market is over $ 1.3 trillion.

At the top of the list is Bitcoin. The value of all bitcoins is $ 599.6 billion, take it or give it away.

3. Why are they so popular?

Cryptocurrencies are very attractive for several reasons. The following are some of the most common:

Some people think that cryptocurrency is the currency of the future. Therefore, many of them are investing their hard-earned money in the hope that the cryptocurrency will rise in value after a few years.

Some people think that this currency will be exempt from central bank regulation because these institutions reduce the value of money through inflation

Some supporters prefer the technology that drives cryptocurrencies, and that is blockchain. Basically, this is a decentralized recording and processing system, which can offer a higher level of security than conventional payment systems.

Some speculators go for cryptocurrency just because its value grows.

4. Is it a good investment?

According to most experts, the value of cryptocurrencies will continue to grow as time goes on. However, some experts suggest that these are just speculations. Just like real currency, this type of currency has no cash flow. So, if you want to make a profit, someone has to pay a larger amount of money to buy the currency.

Unlike a well-run business that grows over time, cryptocurrency has no assets. But if the cryptocurrency stays stable for a long period of time, it will certainly help you earn a lot of money.

In short, this was a basic introduction to cryptocurrency. We hope that this article will help you get acquainted with this new type of currency.

How does cryptocurrency gain in value?

Cryptocurrencies are the latest ‘big thing’ in the digital world and are now recognized as part of the monetary system. In fact, enthusiasts have labeled it a ‘money revolution’.

Clearly, cryptocurrencies are decentralized digital assets that can be exchanged between users without the need for central authority, most of which are created by special computing techniques called “mining”.

The acceptance of currencies, such as the US dollar, the British pound and the euro, as legal tender is because they were issued by the central bank; digital currencies, however, such as cryptocurrencies, do not depend on public confidence and trust in the issuer. As such, several factors determine its value.

Factors determining the value of cryptocurrencies

Principles of a free market economy (mainly supply and demand)

Supply and demand are the main determinants of the value of anything valuable, including cryptocurrencies. This is because if more people are willing to buy a cryptocurrency and others are willing to sell, the price of that particular cryptocurrency will rise, and vice versa.

Mass Adoption

Mass adoption of any cryptocurrency can bring down its price per month. This is because the supply of many cryptocurrencies is limited to a certain limit and, according to economic principles, an increase in demand without a corresponding increase in supply will lead to an increase in the price of that particular commodity.

More cryptocurrencies have invested more resources to ensure their mass adoption, and some have focused on the applicability of their cryptocurrencies to urgent personal issues as well as key everyday cases, with the intention of making them indispensable in everyday life.

Fiat Inflation

If a fiat currency, such as the USD or GBP, becomes inflated, its price rises and its purchasing power declines. This will then cause an increase in the cryptocurrency (we use Bitcoin as an example) compared to that fiat. The result is that with every bitcoin you will be able to acquire more of that fiat. In fact, this situation was one of the main reasons for the increase in the price of Bitcoin.

Fraud and the history of cyber attacks

Fraud and hacks are also key factors affecting the value of cryptocurrencies, as they are known to cause wild changes in estimates. In some cases, a team that supports cryptocurrency may be fraudsters; they will pump up the price of cryptocurrency to attract unsuspecting individuals, and when their hard-earned money is invested, fraudsters cut the price, which then disappear without a trace.

It is therefore imperative that you watch out for cryptocurrency scams before investing your money.

Some other factors to consider that affect the value of cryptocurrencies include:

  • The way cryptocurrency is stored, as well as its usefulness, security, ease of acquisition and cross-border acceptability

  • The strength of a community that supports cryptocurrency (this includes funding, innovation and loyalty of its members)

  • Low related cryptocurrency risks as perceived by investors and users

  • Sense of news

  • Cryptocurrency market liquidity and volatility

  • Country regulations (this includes banning cryptocurrency and ICO in China and accepting it as legal tender in Japan)