Cryptocurrency
Hello Friends! So how are you guys? We are hoping that you are doing well and trying to move forward in your life wherever you are. We welcome you to this post.
We and you must be living our lives somewhere in our house or at someplace. Friends, food, and other things are needed to survive. Which is available upon purchase from us.
We buy anything by paying money or we earn our living by doing transactions among ourselves. And friends, do you know that transactions are not only done through money, but now with the increasing development, people are using it in digital also.
So friends, in today’s post we will know what is cryptocurrency? how does cryptocurrency work? and how can we use cryptocurrency? So friends, to get all this information, definitely read this post completely.
What is Cryptocurrency?
It is a kind of invisible currency that we cannot see in physical form. It is a digital currency.
Cryptocurrency is also a virtual currency. Which was launched in 2009. And for your information, let us tell you that the first cryptocurrency was bitcoin.
Friends, this question must be arising in your mind that cryptocurrency is a digital currency, so can we touch it with our hands?
So friends, let us tell you for your information that you cannot keep it anywhere like ordinary coins or notes. Rather, being a digital currency, it is stored or saved in your digital wallet.
Wherever you live friends. The currency will be the authority of the government there. But I will tell you for your information that the government of any country does not have the right to digital currency cryptocurrency.
Due to this currency being digital, there is no control of any bank or agency on it.
If said in simple language, then bitcoin traditional
Doesn’t follow the banking system. Rather, it keeps on transferring from one computer wallet to another computer wallet.
Bitcoin the only cryptocurrency in the world?
It is not that only bitcoin is the only cryptocurrency, but there are more than 5000 such cryptocurrencies in the world. Like- Ethereum, Ripple, Litecoin, Tether, Libra, etc.
Who has created Cryptocurrency?
Friends, you are wondering who created the cryptocurrency. Friends, let us tell you that cryptocurrency was created by a Japanese living in Japan. His name is Satoshi Nakamoto.
Also known as the father of cryptocurrency. cryptocurrency was launched in the year 2009. Satoshi Nakamoto was a cryptographer by profession.
Friends, there is a question in your mind right now how does cryptocurrency work, friends, we give you the answer to this question too.
Misconceptions about Cryptocurrencies and Myth vs Fact
How does cryptocurrency work?
The cryptocurrency works on the blockchain. Friends, before telling them how cryptocurrency works, tell them what is blockchain. If we say it in simple language, then this Peer to Peer Network connects each other. And all these accounts are kept in a Ledger.
You can think of blockchain as a kind of chain. Blockchain is made up of two words. The block means a kind of box. The chain which means connected in a way.
It means that one box is connected to another box. For example, suppose there is a transaction, after that one block is filled, another block is automatically started.
That is, one transaction is associated with another transaction, it acts as a chain. It is connected from one computer to another computer.
This shows who has how many bitcoins and in such a situation, if someone tries to cheat, then he gets tracked. That’s just the technology we call Blockchain.
How to earn money with cryptocurrency?
Cryptocurrency trading is the most popular way to make money. But it carries a lot of volatility which makes it extremely risky.
But due to the immense growth potential of the market, there are other effective strategies to make a profit with cryptocurrency.
There are three ways to earn money from cryptocurrency, you can choose any of these three paths and earn money from cryptocurrency
⦁ Buy/Sell Cryptocurrency
⦁ Cryptocurrency Trading
⦁ Cryptocurrency Investment
With the help of these 3 ways, you can earn money from cryptocurrency, so let’s know about these 3 ways
Buy/Sell Cryptocurrency
From its name, you must be aware that you can neither buy nor sell cryptocurrency, but you can buy it by exchanging one cryptocurrency for another. And rather it can be sold only through the exchange of one thing.
Cryptocurrency Trading
The way we trade shares in the stock market, we can also trade cryptocurrency. For this work, you will find many companies, who give us apps.
Where you can also buy cryptocurrency. Or send us a strategy for you to buy cryptocurrency the way you buy shear in the stock market that can use the same strategy.
If you do not have any information about what is trading or trading, then read the post given below, this will give you information about trading and you will also learn to trade cryptocurrency easily.
Cryptocurrency Investment
With its help, you can earn money by investing in any cryptocurrency. For example, if you invest in bitcoin, and its price increases, then your investment also increases, and its value decreases, then the value of your money also decreases. In this, you may need to take a little risk.
How to buy cryptocurrency?
Cryptocurrency is a type of digital currency. That’s why you can’t buy it. If you want to buy cryptocurrency, then first of all you have to choose any cryptocurrency, there are many cryptocurrencies in the market like:
⦁ Bitcoin
⦁ Ethereum
⦁ Litecoin
⦁ Dogecoin
⦁ Libracoin
⦁ Ripple
These are the names of the top five famous cryptocurrencies, apart from these, there are many other cryptocurrencies, you can buy any cryptocurrency from them.
Conclusion
Friends, we hope that you must have liked this post. In this post, we have given you some information related to cryptocurrency like what is cryptocurrency? how does cryptocurrency work? how to buy cryptocurrency? how to earn money from cryptocurrency? We have given all this information to you through this post.
So friends, definitely read this post completely. If we have made any mistake in this post, then forgive us and tell us in the comment box.
Thank you!
