What Is Cryptocurrency?

WHAT is Cryptocurrency?

Think of it as a currency running on the internet. 

You may think of Bitcoin but there are thousands of cryptocurrencies running in the blockchain—a technology that You may think of Bitcoin, but there are thousands of cryptocurrencies running in the blockchain—a technology that allows the birth of crypto. Obviously, there’s no chance of counterfeiting when stocked in the digital world. Blockchain technology uses encryption techniques to manipulate the peer-to-peer transfer of funds and circulation of monetary units.

WHY is Cryptocurrency considered to be worth investing in?

One of the most popular and being thoroughly monitored more than other cryptocurrencies is Bitcoin. Introduced in 2009, it gained popularity up to this date and acquired its worth investing. Despite not being clear how its value came up to this date all these years, it has obviously proved to increase in price in the coming years.

So HOW does it work?

Simply compare it to the official currency where you live. It circulates to the public to buy goods and avail services. What differs in cryptocurrency is that buyers purchase it for staking or trading.

NOW! Did we catch your attention? 

Let’s answer your main question in these circuses of questions.

How can you earn?

Obviously a complicated idea, but let us narrow down things for you and put it simply.

To earn rewards, investors need to hold a particular cryptocurrency.

Not all cryptocurrency offers staking that works their nature of rewarding investors while holding—this is where the concept of ‘trading’ or ‘buy and sell’ enters. The stock market is the most basic concept of buying and selling. So what about the reliability of the cryptocurrency you wanted to hold?

When to finally decide on purchasing the specific cryptocurrency?

Research is the Key!

Surprised?

It’s impossible to enter the cryptocurrency world without looking up through the internet. The use of social media platforms that we use every day is an excellent platform for educating yourself and expanding your knowledge about the world of cryptocurrency.

The final takeaway?

Compared to the stock market, cryptocurrency is more exciting. By trading cryptocurrencies, knowing what they can offer, and speculating prices and behaviors first is the most excellent way to avoid liabilities.

Buying or trading cryptocurrency is entirely dependent on your decision. It all depends on you when, and it’ll come to a time where “You made the right decision!”.

Sources

• Cryptocurrency Definition
• What Is Cryptocurrency? – Forbes Advisor
• Making sense of bitcoin, cryptocurrency and blockchain
• The Rise of Bitcoin – AIER
• What is staking? | Coinbase
• Beginner’s guide to buying and selling cryptocurrency