CRYPTOCURRENCY
WHAT IS CRYPTOCURRENCY?
Cryptocurrency is a digital
payment system that does not related to banks to verify transactions .It’s a
peer to peer system that can enable anyone anywhere to send and receive
payments.
Cryptocurrency is stored in digital wallets. Cryptocurrency received its name because it uses encryption to verify transactions
Cryptocurrency started by Satoshi Nakamoto on OCTOBER 28,2008
Cryptocurrency is a digital coin secured
by cryptography they have their own store values & are designed to use as a
medium of exchange for buying goods or services. Cryptocurrencies are
decentralized meaning that no
they are inflation
proof & the digital structure facilitates free portability across the world.
authority regulates them. They are built on the block chain network technology
which ensures transparency & helps track every transaction.
Theoretically cryptocurrencies are immune
to government interference or any kind of manipulation because cryptocurrencies do not have an underlying economic base
For example: ever received
a paper token from your next door pan shop instead of a small change which he
would accept the next time you visit him .Imagine that token digitally
&that’s your cryptocurrency the big
difference is ,here there is no owner issues &it would at least in theory
be accepted globally.
Benefits of cryptocurrency:
·
Easy
transactions
·
Incredible
security
·
Short
settlement times &low fees
·
Exponential
industry growth
· Out sized returns
·
More
private transactions
·
Portfolio
diversification
·
Inflation
hedge
·
Cross
border payments
·
A more
inclusive financial system
· Transaction freedom
·
24\7
market
WORKING OF CRYPTOCURRENCIES:
It is a form of payment that can
circulate without the need for a central monetary authority such as a
government or bank. Instead cryptocurrencies are created using cryptographic
techniques the enable people to
Buy→sell/trade them securely
The easiest way to get free cryptocurrency is to get signup bonuses from cryptocurrency exchanges similar to
stock market bonuses you need to deposit or trade a certain dollar amount
within the platform within a certain period of time in order to be eligible for
the bonus.
Cryptocurrency work using a technology
called block chain. They are tokens that can be used as a form of payments in
exchange for online goods &services they carry a predetermined store value
of their own. just like any other flat
currency like the US dollar or Indian rupee.
Cryptocurrencies are digitally
mined where very sophisticated computers solve extremely complex computational,
mathematics problems.
Best place to buy cryptocurrency:
Ø
Best overall:
coin base
Ø
Best for
beginner :etoro
Ø
Best for
no cost: Robin hood
Ø
Best instant:
coin mama
Ø
Best for
interest &borrowing :block Fi
Ø
Best for
privacy :Bisq
How to buy cryptocurrencies:
We should need a ‘’WALLET’’ an online app that can hold your
currency .generally you create an account on an exchange & then you can
transfer real money to buy cryptocurrencies
Any investor can purchase cryptocurrency
from popular cryptocurrency from popular crypto exchanges such as coin base
app such as cash app or through brokers
Another popular way
to invest in cryptocurrencies is through financial derivatives such as CME’S
bit coin trusts & bit coin ETFS
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