Crypto currency has become increasingly popular, but what exactly are crypto currencies? How do they work? And why should you care? This guide explains the basics of crypto currency and why you should learn more about it. It gives an overview of how crypto currencies work and explores their potential to change the financial industry as we know it. Cryptocurrency has become increasingly popular in recent years, but there’s still some confusion about how they work, how they’re created, and what value they can bring to the financial industry as a whole.
Crypto Currency:
A form of digital money that is based on cryptographic techniques. Crypto currencies are decentralized, meaning there is no central server or point of control. It's more like a shared public ledger that everyone in a crypto network can access.
All About Bitcoin:
An In-Depth Guide To The Crypto Currency: Bitcoin has been a relatively popular currency since its introduction in 2009. However, in 2017 it exploded into mainstream consciousness after hitting an all-time high of over $19,000 per bitcoin in mid-December. Though it’s currently trading at less than half that amount — about $9,600 as of early April 2018 — there’s still plenty to talk about regarding this cryptocurrency.
How Does Bitcoin Work:
The Bitcoin protocol is essentially a shared public ledger on which all confirmed transactions are collected and recorded. The consensus algorithm is run by individuals known as miners who use their computers to process every transaction in exchange for transaction fees, newly created bitcoins, or both. Mining requires extensive computing power to solve complex cryptographic problems. The more computational power dedicated to mining, the greater a miner’s chances of earning bitcoins—and therefore its incentive to participate in the marketplace.
How Do I Get Bitcoins?
There are several ways to buy bitcoins, but perhaps the easiest is to exchange them for traditional currencies with someone near you. Local Bitcoins is a good place to find someone who’s looking to meet up and trade locally. Once you locate a seller, use Escrow or another trusted third-party service (or just go in with a friend) so you don’t have to send your funds directly to an anonymous internet stranger.
Why Use Bitcoins?
For starters, you won’t need to pay any additional fees for accepting payments in bitcoins. Businesses are charged high processing fees by payment processors like Visa or MasterCard when consumers use credit cards or debit cards. If you’re using PayPal, they also charge 2.9% + $0.30 per transaction (that’s a lot of money). By accepting bitcoins instead, you not only lower your costs, but also give your customers an incentive to start paying with cryptocurrency as well!
The Future of Bitcoin:
This is a brief overview of Bitcoin, its past, present, and future. There are two main reasons why Bitcoin has been on an amazing bull run for over a year; it’s unique tech advantages and its nature as an uncorrelated asset class that could provide diversification benefits. As you can see from our video, there are many ways in which you can buy Bitcoin or invest in it as well as many other Alt-coins.
Is Bitcoin Legal in My Country?
You’re better off assuming Bitcoin is legal everywhere. The main reason why you would want to know if it’s legal or not is so that you don’t get surprised by government raids, arrests, fines, etc. If it turns out that using Bitcoins is illegal in your country (or just one of your countries), then simply use another payment method to buy and sell Bitcoins.
How Can I Exchange My Fiat Currency For Bitcoin?
If you’re just starting to dabble in crypto, you’re probably trying to figure out how you can exchange your existing fiat (paper) money for digital cryptocurrency. The thing is, there are quite a few ways to buy cryptocurrencies—and most exchanges only deal in certain types of digital coins. Knowing which way is best for you depends on a variety of factors, including what kind of investor or trader you are and how much crypto you’re looking to acquire at once.