Source: Dumb Little Man
There’s a lot of information out there about cryptocurrencies. However, for the vast majority of people understanding what they are and how to use them remains a mystery.
Most people think that Bitcoin is the only type of cryptocurrency and that it only applies to illegal activities.
In reality, that’s nowhere near the truth.To enlighten you, here’s a handy cryptocurrency guide you can use.
What Is Cryptocurrency?
Cryptocurrency is a form of digital currency built on blockchain technology. Blockchain technology uses a public ledger to record transactions and each transaction bears the insignia of the previous transaction. This ensures continuity.
Decentralization prevents single point data breaches since all transactions occur across the network. Instead of being government issued like a fiat currency, it is built on a zero trust model by private individuals for various reasons.
Everything is on a public ledger. That way, any attempt to tamper will be obvious. Using it is just like any other currency. Even big companies like Overstock, Microsoft, and Expedia accept payments in Bitcoin, making it one of the most prevalent and widely known cryptocurrencies.
Buying And Selling Cryptocurrency
Depending on how you want to use your cryptocurrency, you have different options for how to buy and store it.
If you want to use it just like cash to buy and sell things online, you can use something as simple as the Cash App by Square. It allows you to trade your dollars and make payments using Bitcoin.
If you want to buy cryptocurrency as an investment, you will need to find the right exchange for you.Choosing an exchange can be as simple as picking the one available in your country. You can also choose based on maker…
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