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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.
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.
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!