What is Crypto Currency? Are you still wondering how to earn money online from crypto currency? Before going further, let us understand what crypto currency is and how we can use it to our advantage in making money online and offline.
About cryptocurrency
In recent years, cryptocurrency has emerged as a popular investment alternative. You can make money by buying and selling it. It's often called trading. This applies to most investments: never trade with money that you cannot afford to lose. Still, there are many people who have profited from cryptocurrency trading.
Blockchain technology
A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. It's constantly growing as completed blocks (the most recent transactions) are recorded and added to it in chronological order, so market participants can keep track of cryptocurrency transactions without central recordkeeping. With a copy of the blockchain residing on each node, it downloads automatically.
Cryptocurrency wallet
Remember that even though there are many wallets out there, not all of them are equal. When you're looking for a safe place to store your cryptocurrency, remember that you need to find a wallet that's appropriate for your preferred currency. As an example, if you're using Ether, take a look at wallets that are compatible with Ethereum, like Jaxx or MyEtherWallet.
Types of currencies/coins in cryptocurrency
There are two types of coins in cryptocurrency - one of them is the original, the other follows in its footsteps. Examples of these are Litecoin (a cryptocurrency based on Bitcoin), Namecoin (a cryptocurrency based on Bitcoin), Peercoin (a cryptocurrency based on Bitcoin) and so on. Contrastly, a pure currency does not have any advantage over another cryptocurrency but its value is mainly tied to a proof-of-work algorithm and is generally managed by its developers.
Best cryptocurrency exchange
A cryptocurrency exchange is a digital marketplace where people buy and sell different digital currencies and where currencies can be exchanged for one another. So when you buy bitcoins with US dollars, that's happening on a cryptocurrency exchange. Although there are hundreds of crypto exchanges out there, we prefer to stick with those that have been around for longer. Below are some of our top choices Binance, GDAX, Bittrex, Poloniex
The list of famous cryptocurrencies/coins
The most famous currency today is Bitcoin, which was created by Satoshi Nakamoto in 2009. This currency offers peer-to-peer transactions with no interference from banks or credit card companies. Because each transaction utilizes a cryptographic signature, blockchain transactions are secure because nobody can replicate or falsify one without permission.
How can you buy cryptocurrencies
To buy cryptocurrencies, you first need a cryptocurrency wallet. This is like an online bank account where your digital money can be stored securely. There are different types of wallets that offer different levels of security and functionality. For example, some wallets offer two-factor authentication or multisig functionality for added protection. You can also store your crypto coins on exchanges in order to convert them into other coins or fiat currencies. One thing you should keep in mind is that if you don’t control your private keys, then it isn’t really your cryptocurrency.
Why blockchain technology has become popular these days?
According to Wikipedia, blockchain is a digital and decentralized ledger that securely maintains a list of records known as blocks. The blocks cannot be changed in blockchain and there is no way to add or edit records.
Conclusion for what is crypto currency and how to earn money online from crypto currency.
The introduction of crypto currency marks the coming of the next generation of money. For all its advantages, it's not surprising that people are using it--especially given that they're looking for a way to earn more income. If you use bitcoins as your currency of choice when buying items online, you might want to stick to reliable sites with a good reputation.