This sounds complicated, but it’s actually shortly faraway from what we see with currencies today. Bills have serial numbers, and bank accounts have account numbers
Cryptocurrencies are basically like serial numbers without the physical bill, and cryptocurrency wallets are like checking account numbers without your name attached to them
Instead of the bank or government keeping track of your wallet balance, this is often done by computers that hook up with a cryptocurrency network to process transactions and earn cryptocurrency for doing so
Questions About Bitcoin, Dogecoin, Ethereum etc.
Broadly speaking there are two sorts of cryptocurrencies: coins and tokens. Cryptocurrency coins belong to cryptocurrency networks that were built from the bottom up
Because cryptocurrency networks are so hard to form from scratch, only a couple of dozen cryptocurrencies are literally coins. the remainder are cryptocurrency tokens
The most important thing to recollect about cryptocurrency tokens is that tons of them are nothing quite scams. this is often primarily because cryptocurrency tokens are very easy to make
Cryptocurrency Safety And Criminal Use Concerns
For starters, not all cryptocurrencies are created equal. Some cryptocurrencies are built to prioritize speed over security, and typically the results of that play out quite quickly
When it involves the criminal activities, it’s true that ransom demands made by hackers often involve some quite cryptocurrency. However, these cryptocurrencies always get swapped to privacy coins
💰Explaining Cryptocurrency Price And Value💰
Bitcoin has value because its BTC coin has an economic profile to gold. it’s a maximum supply and only alittle amount of BTC is made every day , which amount is cut in half every 4 years
Cryptocurrencies like Ethereum’s ETH have value because they’re required to buy the transaction fees related to minting and moving tokens also as using decentralized applications
“Okay, Which Cryptocurrencies Should I Buy?”
Before you answer that question, you want to remember to stress that nothing you tell them is financial or investment advice
Which cryptocurrencies you opt to take a position in boils right down to your timeline and risk tolerance. confirm to not misunderstanding market cap with price potential, and always do your own research.
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who isn’t a licensed financial advisor or registered investment adviser . Trading cryptocurrencies poses considerable risk of loss. The speaker doesn’t guarantee any particular outcome
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