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What is crypto?

What is crypto currency

Would you like to know more about crypto currency or dont you have a clue what it is in general and are you just curious? Then we have all information you need to start investing in crypto currencies and more information to increase your overall knowledge about technological development.

What is crypto currency

Cryptocurrency is an internet based way of exchanging, that is based on cryptographics to express financial activities. crypto is an internet acquisition that is developed to make online transactions save and accessible to everyone. Cryptocurrencies use blockchain technology to reach decentralisation. The most important factor about bitcoin is that no one really owns it. Crypto is theoretically seen as immune to regulations all other currencies follow. Cryptocurrency can be send between wallets in just a few seconds. All while being logged and traceable in the blockchain.

The network

A crypto network is called a blockchain, A blockchain is basically a whole bunch of computers that are connected to each other over a network connection. These computers are constantly calculating a formula, the calculation of the this formula is called mining. The process of mining can be described as handling transactions for the network. The computers connected to the network will be rewarded with a small amount of the currency they are mining. This is why the network can function because you are rewarded for the actual transactions you've handled. But as time goes on it becomes harder and harder to mine for certain coins because there is a limited amount of coins available. Currently there are 18,138,537 Bitcoins, the maximum amount of Bitcoins is 21,000,000.

The future of crypto

There are a lot of different cryptocurrencies, from Bitcoin to Ethereum, every currency holds a different value and has its own blockchain. Companies such as Shell, Wikipedia, Microsoft, Expedia and Overstock accept crypto as a payment method. They believe that cryptocurrency and blockchain technology is the future, and that money as we know it will slowly disappear. This is because the world of online transactions needs to be fast and the current online transaction systems just aren't fast enough, bitcoin and other crypto also provide a form of transparency to its users. This is because it is completely decentralized. The currency being decentralized brings some form of safety to the network because no one owns the network. But everyone can see the information and transactions on the network.

What is crypto worth

The worth of cryptocurrencies can fluctuate heavily. The value of crypto can increase en decrease and that can either be profitable or unprofitable for the people invested in crypto. The value of crypto isn't stable yet, but there are coins that are directly linked to the value of the US Dollar. These coins are called stable coins because their value doesn't fluctuate as much as other coins.

Where can I buy crypto

Cryptocurrency is usually bought from a crypto exchange, these are big platform that offer all sorts of coins. These exchanges dont only offer the buying process but also offer a trading platform where you can trade your coins for other coins that are currently selling for a higher or lower price. Some of the most popular exchanges are Binance, Tagz and BitForex. Some of these exchanges have a trading value of more than A billion dollars a day.