Since the value of Ethereum, which is gaining attention as a cryptocurrency of the next generation becomes a hot topic, even the original bitcoin cryptocurrency is getting hot theme. I will try to explain this as simply as possible. For ease of explanation, please indicate anything that goes beyond the professional section.
1. What is virtual currency?
Ethereum and Bitcoin are some of the most popular and recognized cryptocurrencies of the current generation. To to understand the concept of virtual currency, you must first understand the concept of currency. IN the primitive era, currency developed in the form of coins and banknotes through barter.
In addition, credit cards are used later than coins and banknotes, and with the advent of digital era gift shows are handled the same as accounts, PayPal, Apple Pay, Samsung Pay, Kakao Pay, Naver Pay etc. a new payment method will also appear.
However, this is simply a more convenient way to use money. In other words, if the account the user has no money, or if the money is not paid for the used amount after a certain period of time, they cannot be used, that is, the way spending money, and not the money itself is replaced by something else. Right. Cryptocurrencies like Bitcoin and Ethereum have changed money themselves. Even if the accounting user records no money, such as dollars or won, can be used as money virtual currencies such as bitcoin or ethereum.
In other words, if you use a credit card, you will have to pay the amount that you will spend later, but to buy a gift show you have to pay money to buy him. You will be treated the same way you bought it. Of course, this payment method is possible use as convenient as a credit card.
2. How will you achieve real currency handling?
So how do you use a cryptocurrency like Bitcoin or Ethereum? For example, if you buy something to eat in the market and offer to give you something else without paying money, the owner will ask you where to pay it. In other words, in order to use cryptocurrencies, cryptocurrencies such as Bitcoin and Ethereum, should be treated like money. Where on earth are cryptocurrencies like Bitcoin or Ethereum, will be treated like money?
Ironically, it is hackers and online drug dealers who use virtual currencies like bitcoin and ethereum are most like real money. In other words, cryptocurrency cannot be tracked like money, so it is easy to make black money, so hackers request bitcoin as ransomware for ransomware, or instead of money that is tracked and caught when found during drug transactions on representative drug websites such as the Silk Road: virtual currency is used and its value is recognized.
In any case, the idea of the person who made the cryptocurrency has been realized. In some cases, virtual currency is treated as money anyway, which means that virtual currency is now recognized as real currency, not an illusion. The question is, how many places do these cryptocurrencies replace real money.
The first cryptocurrency of humanity was bitcoin, created in 2009 by an anonymous developer Satoshi Nakamoto. It is said that after the success of Bitcoin 8 years later, about 700 virtual currencies such as Ethereum, Ripple, Litecoin, Dash, etc.
It is of course true that bitcoin currently accounts for 80% of the transaction with cryptocurrency. However, it is not yet expected that interest in digital cryptocurrency will cool off as Ethereum is gaining popularity thanks to its recent rapid growth over Bitcoin.
Why do you think so? For cryptocurrencies like Bitcoin and Ethereum, future-oriented the currency aspect is recognized for its investment value. For the same reason the company Tesla, a US car manufacturer, installed an electromechanical system on the Nasdaq in recognition of it, future technologies despite the scarcity.
Also see where cryptocurrencies such as Bitcoin or Ethereum are absolutely needed. Here black money is used such as drug transactions and ransomware. Black money never disappears from the world. Since black money will stay with people until the moment when humanity dies out, the future of cryptocurrency will also be very resilient.
So how do you get these cryptocurrencies? It is so simple. You can buy it for money or get it yourself bitcoin, as if you were digging gold and converting it into money in the era of Western pioneers. There are separate exchanges from which you buy cryptocurrency such as Bitcoin or Ethereum. You can of course register as a member and purchase bitcoins by choosing one of the online places like Polonics, Bithumb, Bitnex, Bityer, etc. in the USA, Korea, Hong Kong and Japan.
Also, the way to get Bitcoin as a more original currency is to mine directly. Exactly just like buying gold means getting money if you mine bitcoin or ethereum in Internet like gold in a professional way with high performance computer and use special software, you will receive virtual currency.
5. How to make money with foreign exchange?
But in fact, even if there is a cryptocurrency like Bitcoin or Ethereum, the use of cryptocurrencies for drug transactions or extortion have nothing to do with lives ordinary people. I don't understand if this is money.
You can easily think about it too. You can think of cryptocurrencies like Bitcoin or Ethereum as stocks. Cryptocurrencies such as Bitcoin and Ethereum change their value in real time like stocks, and Ethereum, a cryptocurrency that recently gained attention as the second Bitcoin, is so popular that its price has skyrocketed 25 times.
If you give Ethereum money or secure a certain amount using the mining method, and you resell Ethereum, when the value of Ethereum increases several dozen times, you will receive such a profit from the transaction. No wonder 50 million won turned into 700 million won in 3 months. It's like investing in stocks.
In addition, it is highly likely that cryptocurrencies such as Bitcoin and Ethereum will be developed as a payment method to replace money as there are no physical space constraints, transaction fees, and various types of transactions are possible. The belief that this is already replacing Money is also great, which is why interest in cryptocurrency is growing. However, it should be noted that in addition to the popularity of cryptocurrencies, there are also fraudulent activities involving cryptocurrencies. For example, scammers discovered in April 2017 created a fake cryptocurrency that mimics bitcoin and then tricked them into making big profits by investing in the cryptocurrency and causing over 60 billion in damage.
