Introduction to Cryptocurrency

Eversince my eyes became opened to Cryptocurrency world, my brain and thinking has been reset. I keep making research everyday to know how to best invest in the new age currency and build life around it, the more i want to know, the more i fall in love into it.

Let's take a complete guide to the basic Cryptocurrency world.

• Blockchain: Blockchain is the record keeping technology behind Bitcoin. This works like a spreadsheet, shared by multiple users to record everything and it's super secure. Everytime it gets updated with a new transaction which is also called block, everyone sees the change, and it gets added to the sheet.

• Hodl: This simply means the ability to hold Crypto, instead of selling or spending it. This is pronounced as "HOLD", but some times we make mistake, so it was written that way because of a spelling mistake in 2013, and since then it's been like that. You can actually chose to hold your earning or investment to build and accumulate overtime instead of spending it.

• Satoshi: This is named after the creator of the Cryptocurrency, and a Satoshi is the smallest unit of a Bitcoin, it's actually 100million of one Bitcoin. For example let's say we have 00.00000001, the 1 at the end is a Satoshi. Like i said earlier its named after the creator, Satoshi Nakamoto.

• Cold Storage: you wonder cold Storage? This actually means storing your Cryptocurrency in a digital wallet, that is not connected to the internet.

• Mining: When you hear mining, your mind goes to digging out mineral resources, well this is almost the same, but in a different way. Mining of Cryptocurrency involves generating new coins, and the people that partake in generating the new coins are called miners, who are in turn paid with different Cryptocurrencies.

• Wallet: Just like you have a wallet to keep your valuables, like money, credit and debit cards etc. Your Crypto wallet is the digital address where you store all your Crypto earnings. When transferring from a wallet address to another, one must be very careful, you can't send a Bitcoin money to etherum money, if you don't want your money to lost in between.