cryptocurrency

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"If you don't believe it or don't get it, i don't have the time to convince you, sorry" - Satoshi Nakamoto

Earliest saying about cryptocurrency by Satoshi Nakamoto who is the founder of Bitcoin. His invention has completely changed the world.

Cryptocurrency

A cryptocurrency is virtual currency that is secured by cryptography.

  • Cryptography is an art of protecting information and communications through the use of codes. "Crypt" means hidden, "Graphy" means writing.

Cryptocurrencies are decentralized networls based on blockchain technology.

  • Decentralized networks eliminates the need of one central server and allow multiple servers to act as one to comolete a task

  • Blockchain technology distributed ledger records the provenance of a digital asset.

Cryptocurrency is launched in 2009 in the wake of 2008 financial crisis as way for people to control their mony themselves, without relying to companies, bank or government.

Cryptocurrency affects the global economy by challenging the USD. It has more higher transaction, thus USD is up to challenge.

  • USD is the reserve country of the global economy

Cryptocurrency has no use for middleman like bank and financial companies. It takes a lot of time to transfer funds from one place to another. But with cryptocurrency, transactions even inyernational can be made by seconds.

There are different ways in how to earn cryptocurrency.

  1. Buying - one thing to consider is the transaction fee

  2. Mining - uses a computer to solve mathematical equation to validate blockchain transactions. You'll be receiving a fragement of the virtual token that you validated

  3. Staking - looks like lottery game. The more coins you hold and put into staking, the more chances you will be chosen to validate the transaction.

  4. Join airdrops - in exchange of performing a specific task, users receives some project token

  5. Bounties - just like airdrop, you need to do various task in exchange for coins

  6. Freelancing - you can do work by accepting cryptocurrency as pay. It maybe risky because of the volatility of cryptos.

    • volatility - price of security increasing and decreasing for a set of given returns

  7. Crypto payment - e-commerce websites as cryptocurrency as payment

  8. Joining networks of publishers - your website can be paid by displaying ads

  9. Use cryptocurrency and payment platforms - some digital banking offers financial management that helps earn more cryptos by using funds you already have

  10. Gambling - you can join up on gambling platforms who uses cryptocurrency. Certain gambling platforms have sign up bonuses, you can use it for gambling. Take note that some gambling platforms need you to deposit a minimum amount in order to withdraw.

  11. Cryptofaucets - you have to watch ads, complete surveys, and play games to be rewarded. Then you can cash out once reach a minimum withdraw.

Now you have small knowledge about cryptocurrency and wanted to start away. Here are thing that you need to consider.

  1. Cybersecurity issues - in this digital era, cryptocurrency may be subject to cyber security breaching

  2. Volatility

There are major impact of cryptocurrency in our global economy by competing USD.

Their are some ways to earn cryptocurrency, but you need to have patience and probably a good luck.

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