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BlogCRYPTOCURRENCY

CRYPTOCURRENCY

Tradable digital form of money or asset are called cryptocurrency. It exists online only- are purely digital, and there is no option to take out a cryptocurrency in paper or coin form. Cryptocurrencies use secret codes called CRYPTOGRPHY to verify and secure transactions, and that is where they get their name from.

There are currently one thousand different cryptocurrencies in the world. Most people see them as the backbone of a fairer, future economy. Cryptocurrencies work by logging transactions into a database to work out how much of that currency each individual, or their address, is holding. It is, in fact, built on blockchain technology.

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When using cryptocurrencies you have a public key and a private key, both of which appears as strings of random numbers and letters. It is also very important that you have your private key written down and stored in a safe and secure place. There is no ” I forgot my private key” option when it comes to cryptocurrencies. If you lose your private key, you lose everything controlled by the key.

CRYPTOGRAPHY :

Cryptography is the technique of securing information and communication through the use of codes so that only those persons for whom the information is intended can understand and process it.

HOW ARE CRYPTOCURRENCIES VALUES?

One of the most common question in our industry is in regard to how cryptocurrencies are valued. The perception is that somehow they have less value because cryptocurrencies cannot be held in physical for, despite the fact that cash is slowly becoming absolute regardless. Or that they are not “backed” by anything despite the fact that fiat currencies are no longer backed by physical commodities either.

got this image from google when searched for cryptocurrency

HOW TO TRADE CRYPTOCURRENCIES?

One of the most widely discussed and appealing aspects about cryptocurrencies is the combination of volatile and the fact that they can be easily traded, meaning that money can be made in doing so. However, cryptocurrencies can be high risk investments and is important to have a solid awareness about how to safely invest as well as an understanding of what you are investing in. In this segment we will examine the fundamentals of cryptocurrency trading.

HOW TO KEEP CRYPTOCURRENCY SAFE?

Cryptocurrency can sometimes get an unfair and inaccurate reputation for being insecure. This is not the case at all. However, as with anything valuable precautions do need to be taken to keep them safe. Using a hardware wallet- sometimes called COLD STORAGE is one of the best way to keep the cryptocurrencies safe.

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