We are experiencing the crypto boom in cryptocurrency market today and you may not yet feel totally safe to enter that market, which is still new to most investors.
In today’s post, we’ll show you how this feature works and, of course, introduce your most famous currency, Bitcoin. We will also talk about whether or not it is safe to invest in the novelty that has caught the attention of the whole world. Continue with us and check it out!
Crypto coin
Well, you may have heard a lot of talk about crypto coins, but you still do not really know the concept behind the famous virtual coins.
Let’s list some common terms when we talk about digital coins so you can familiarize yourself with the subject.
Mining
One of the ways to get crypto-coins is through mining. Unlike the old way of mining, with shovels and picks, to get the coins you need a high processing power.
This technique involves dedicating high performance hardware to performing complex mathematical calculations.
Blockchain
This is basically the technology behind digital coins. It processes and stores sensitive information, such as the record of financial transactions, through various computers – remember mining?
Most people do not trust banks because they centralize information and we do not have access to verify their authenticity.
Buy and sell
The purchase and sale of crypto-coins can be made through direct transfers between buyers and sellers without the need for any kind of intermediary.
There are several companies in the market that perform transactions with crypto coins.
Wallet
In order to save and transact with the crypto-coins, you need to create a wallet. It works like a bank account; however, there are no maintenance fees. Only percentages are charged on transactions.
When choosing a portfolio, you have to keep in mind that because crypto-coins are digital assets.
I’m Kelly Hood! I blog about tech, how to use it, and what you should know. I love spending time with my family and sharing stories of the day with them.
I'm Kelly Hood! I blog about tech, how to use it, and what you should know. I love spending time with my family and sharing stories of the day with them.
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