What are cryptocurrencies

Cryptocurrency stands for cryptographic currency, or: encrypted money. There are a lot of different words that are used to describe cryptocurrency. It is also called token, digital currency or virtual money. To explain what cryptocurrencies are and how they work, it is important to understand the network behind a cryptocurrency. The network that is used by a cryptocurrency is called the blockchain.

The blockchain can be compared with the network that banks have with each other. The difference is that with the banking network only the banks have insight and control over all transactions (central) and with a blockchain everyone has insight and control over the transactions (decentralized).

Anyone who downloads the blockchain software on his computer becomes a participant of the network. All these linked computers check whether transactions are correct. If more than half of these computers agree, the transaction is approved.

A transaction is sent from one wallet to another. A wallet can be compared to a bank account. The blockchain can be seen as an archive in which everyone can find the history of the transactions. This means that a blockchain can also be used for other purposes in the future. Besides sending a cryptocurrency (for example Bitcoin), property rights of houses or assets could also be transferred.

It is not late to buy and invest in Bitcoin. If you had known and bought just $100 of BTC in 2009, when the value was $0.0009, you will be sleeping in 1 millions dollars now. Digital Asset Investment to disrupt banking sectors in future. (Buy your crypto and keep for yourself for say 2-5 years and sell for profit). -Click here to buy from Trusted Exchange. Link: Buy on LiteBit.

Bitcoin is really a digital asset that will surely increase in the future due to its scarcity. Only 21 million Bitcoin will ever be mined. From historical perspective, every 4 years the Bitcoin protocol is halved to decrease the reward issued through mining. And after every 4 years, after the halving event, the prices increases exponentially. So with future prediction, the price will still rise. You can invest a little money that you can afford to loose and one-day say about 5 years from now, you will reap the reward.

You can buy on trusted Exchange like LiteBit and Changely. Then use Exodus Wallet to save your coins on your non internet connected pc or better still save on a ledger nano (hardware wallets). Keep your private keys safely offline.