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Let's Start with Cryptocurrency

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Avatar for charmingcherry08
Written by   309
1 year ago

With this technologically advanced world, all are digital. There are online jobs. Online shopping is also a trend now, and the online class too. Seems like everything is a one click away on this newly innovated society.

Before, I heard of the term Bitcoin. I know nothing about it at all, but one thing I'm aware of: you can use it as a payment or to buy something I think. To be honest, I was not familiar with cryptocurrencies back then not until this year. I was introduced to a platform where cryptocurrency was used for payments. Because of this, I think it's time to study it deeper and understand every detail about it for me also to be aware of what I'm bringing myself into. That starts with understanding what is cryptocurrency.

Image by Jae Rue from Pixabay 

Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. This is the definition that google gave to me. In my own understanding, cryptocurrency is a money in a digital world. It exists. The wallet, shops, and some people are living along spending and trading cryptocurrencies. On the definition, cryptographical function was mentioned. I think it was something that concerns codes and algorithms in the transaction of cryptocurrencies since it is happening online or through computers and such.

As we can all see, there is transparency. The prices of cryptocurrencies in the market were being shown to us. Also, it has been highly visible because of the people who wants to be on top too. Numbers of miners are increasing from day to day meaning it is widely discussed in the world, but maybe some are not still aware specially those who are from the late generations. And to those who do not have access to world of web.

I get to see facts about cryptocurrency and again, google answered my curious mind though. And I'll share it with you too. Facts about cryptocurrency:

  • You will have your wallet and you cannot lose it. This is cool and great of course. It is like you'll have your wallet for the lifetime and you take control to what will happen in there, but you will be given a private key to it so you could take full responsibility. If you lose that key, it's your problem to face. Lol

  • If in reality there are thieves, in cryptocurrency world there is cryptojacking. This is where a person had accessed your phone and computer and use it for mining. It's like they hacked it or so. This is creepy and uses some malicious code to whatever device you are using.

  • The inventor of Bitcoin never revealed its face. Yes, he/she is still unknown. This is a shocking fact about cryptocurrency. Because imagine, you invented something that blows off like a bomb into the modern world yet you won't want yourself praised and take a stand on inventing it? Uhhh, if I was the inventor well I'll probably have my face all over the logos of cryptocurrencies and in the market too. Kidding!

  • The value is changing and not constant. There are factors that you can consider into diving deeper in cryptocurrency and one of it is the value. It changes and sometimes an advantage to you and disadvantage to anyone.

Image by WorldSpectrum from Pixabay 

I don't have much to say about this matter since I am still on the process of understanding and learning more about cryptocurrency. I stand corrected with some of the facts or what I have just said above. I stand corrected if my understanding is different from yours. Bare with me.

I searched about cryptocurrency and you can see the links on the highlighted texts. You can go check it too. I searched but I assure everyone that I did not just copy paste. The definition of cryptocurrency that I copied was italicized so you could determine that it was copied, but I put the reference. THANK YOU FOR READING!

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Avatar for charmingcherry08
Written by   309
1 year ago
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Comments

Soonest digital currencies gonna take over

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1 year ago

Yeah, I think so too.

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1 year ago

That’s Great . I’m so curious to learn about crypto but I think is a little bit confusing and also I don’t have to much time for that , but I think that is a good way to earn money.

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1 year ago

Yes. Some people say it really is. But, trading with cryptocurrency has too much risks too specially because the value is not constant. It changes everytime.

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1 year ago

I really want to learn more about crypto and the perfect way to trade and sell. I've been thinking of using my earning here to invest. But since BCH is quite unstable so I might go for the other cryptos. I don't know, I might just invest a little amount and see what's going to happen next. If the plan works, then might go for more. :) This is why coinbase is a good wallet, too, coz you can actually see the real-time updates of each crypto.

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1 year ago

I thought of that too, Ate. Pero kasi may pinag-iipunan pa ako, maybe some othe time kapag medyo malaki na ang nakukuhang reward hehe. Goodluck sa pagttrade po ate. 🤗

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1 year ago

Thanks, cherry ❤️ hindi rin naman malakihan ang ttrade ko.. Try ko lang kahit $2 lang muna.

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1 year ago

Sige po ate. Hihi. Goodluck po. Tapos sabihin mo sa 'kin ate kung okay magtrade ha. 😁

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1 year ago

My wallet is in local bitcoin. Have you heard about this? Which is better, coinbase or local bitcoin? Thanks.

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1 year ago

I haven't used the local bitcoin but I think I should try it too.

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1 year ago

Yes, I heard about it. I have one pero I'm not using it. I have coins.ph and for me it is much easier coz you can instantly convert it to peso. Tas you can also use it as load or you can simply transfer your money to cash in case of emergency. Coinbase is okay kaso I can't link my PayPal account yet kasi restricted daw. So, with those 2, I'd say coins.ph is way better to use.

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1 year ago

I am using my laptop for read.cash, is coins.ph can also be downloaded thru laptop or just by using mobile phone? Thanks

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1 year ago

Yes, both coinbase and coinsph are accessible thru web. No need to download. Coinbase.com and coins.ph.

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1 year ago

thanks much.

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1 year ago

You're welcome.

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1 year ago

You can still use coinsph through laptop. Just look for the website po.

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1 year ago

ok will do. thanks

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1 year ago

You're welcome.

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1 year ago

ack i remembered our Management science subject because of this 😂

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1 year ago

Would u like to share what your subject said about cryptocurrency?

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1 year ago

haha i made a powtoon presentation abt it last summer but i already forgot 😅

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1 year ago

Oh. Okay. I thought you remembered. 😁

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1 year ago

Thanks Cherry, I do wonder about cryptocurrency myself and did some google search too but I didn't dig much deeper into the topic. My main search is about how to transfer bitcoins to paypal. 😀 Can you make a bullet detail article on this too? Thanks.

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1 year ago

I did dig a little deeper on this since I was really curious. Yes, I will try to publish an article about that too. Thank you for giving me an idea.

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1 year ago

Hiii

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1 year ago

Hello. I hope you share here your thought about my article.

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1 year ago

Very good

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1 year ago

Thank you so much. I will be glad if you get to share your insights about this matter.

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1 year ago