What is cryptocurrency

In my blog I go over passive income and the different ways you can make money off of it. I go over topics such as affiliate marketing and using apps to generate passive income but I never discussed crypto. A lot of people who get into crypto never really learn what crypto is and how it all operates. Here in my blog we intended to educate you so you can make the best decision you can possibly make. In this post in particular we are discussing what crypto is how it works and what the future of crypto is. 

To start off we should first disuses what crypto is and when it was created. Cryptocurrency first stared with bitcoin in 2009. The creator of bitcoin is a bit of a mystery but the pseudo name associated with the creator is Satoshi Nakamoto. Cryptocurrency was created to be anonymous and a more efficient payment system then standard payment systems. It was also created to make finances more decentralized then they were and are today. This is why cryptocurrency is so important nowadays. This technology is so revolutionary it has the chance to create the biggest redistribution of wealth ever to happen in history. This is why it's so important to get into crypto so early especially at the time of writing of this article when the market has crashed. 

Now to examine what makes crypto currency work we need to understand exactly the fundamentals of it all. In order for cryptos to be private or to even function and be certified they need to be on a network that is called a blockchain. In order for there to be one they need computers too secure and protect the network from hacks or fraud. So to do that they have miners usually secure the network and authenticate the coins or tokens. Every time a miner does that they are then rewarded for their computer power they used to secure the network by completing math problems. It recent years though bitcoin has become harder and slower to mine compared to other cryptos. This is part of the reason why other coins have grown in more popularity recently. 

Now don't get it wrong bitcoin isn't going anywhere and will defiantly be a important coin in crypto for the time being. But I think bitcoin for now we be a source of value for cryptocurrencies  just how gold use to be the source of value for fiat currencies. What the next important step for crypto is web 2.0 and DEFI. These new tools here will allow for financial services to decentralized and allow for more people to have economic freedom. This has a big impact and will be one of the biggest redistribution of wealth events to happen. Hopefully this enlightens you more on cryptocurrencies and gets you more interested in it. These coins and tokens have a big chance of making you lots of money in the short term as well the long run. 

I encourage you to do deeper research into cryptos so you can learn all about the different ones and which ones have the best value and plans for the future. As there are many different coins with different roadmaps along with different backgrounds to look into. For now I will say the best coin you can possibly invest into right now is Ethereum. It has the most dedicated developers most planned out roadmap and has the most money besides bitcoin in market cap. This most defiantly makes it a guaranteed investment but also remember I am not a financial advisor and this is not financial advice and your are in charge of your own decisions. This is all for todays blog I hope you enjoyed the read follow the social media accounts to stay up to date and not miss a single post.  

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