“Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill,” said Jim Rickards, author of Currency Wars: The Making of the Next Global Crisis and six other books. Jim Rickards is an American lawyer, economist, investment banker, speaker, media commentator, and author on matters of finance and precious metals.
Here is everything you need to know about Cryptocurrency:
What is Cryptocurrency?
Cryptocurrency is an internet-based medium of exchange that uses cryptographical functions to conduct financial transactions between two crypto users. The difference between Cryptocurrency and the currency which we use in our daily life for the transaction has a big difference. The currency which we use is controlled by our government bodied and the Cryptocurrency is a decentralized currency and is under user control no government is involved between the Crypto exchange and transaction.
How to keep Cryptocurrency safe?
As we know is not controlled by the government authority so how to keep our Cryptocurrency safe there’s a solution for this. There is a technology that controls your Cryptocurrency to gain decentralization, transparency, and immutability. The technology we use is called Blockchain technology. The decentralized nature of blockchain technology makes cryptocurrencies theoretically immune to the old ways of government control and interference so the transaction should be transparent.
What is Blockchain and how it keeps our assets safe and secure?
Blockchain is a set of records that are connected to each other in a chained form using cryptographic principles. Each block contains an encoded digital record of the previous block and this continues with every block along with a timestamp and data relating to the transfer of data (transaction). A block is a bit of a set of encoded data that is stored in I public database which is also called a chain of data or chain of blocks connected between every block. These set of encoded blocks secure your assets and are stored in a secure wallet called a Blockchain wallet. Every digital wallet present in the market to secure Cryptocurrency is a highly encrypted software platform that stores the private and public keys that connect you to the blockchain where your crypto assets exist.
What is the future of Cryptocurrency?
The increase in the number of people becoming aware of cryptocurrency in today’s world is a piece of evidence that the future of cryptocurrency would see a massive change in the market in few years. The future outlook for Cryptocurrency like bitcoin is the subject of much debate.
How to get Cryptocurrency?
The question arises of how to get cryptocurrency the basic method is that you have to buy it from digital exchanges or you can mine bitcoin using cloud mining or GPU mining. It’s up to your which method you prefer. If you want to buy Cryptocurrency there are multiple trusted exchanges from where you can buy and keep safe in your wallet. But if you want to mine Cryptocurrency you need a well fast computer or a graphics card to mine it. mining Cryptocurrency is a long and time-consuming process.
Top 10 Cryptocurrency present in the market cap are listed below
- Bitcoin
- Ethereum
- Cardano
- Bianca Coin
- Tether
- Polkadot
- XRP
- Chainlink
- Litecoin
- Stellar