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The introduction to cryptocurrency

introduction to cryptocurrency

To be able to fully understand what we are going to speak about today in this article, you need to know completely what is a cryptocurrency and why do you need them. A simple way to put this is by giving you a simple introduction to cryptocurrency. So here it goes.

The first cryptocurrency was introduced to the world back in 2009, and it was known (and still is) as Bitcoin, with the success of this first crypto coin other people saw it as an opportunity and more and more crypto coins were created. And with the years even when the market fell, it always seemed to recover, and this crypto coin seem to have more value than gold, but what are they exactly?

What we did first was a small introduction to crypto currency, and now we are gonna try to explain you exactly what it is. The best and simplest way that we can explain it is, by saying its digital money, their value varies depending on the coin and how the market is going, and it will keep growing by how much demand there is for it. You can use them to pay exchanges as long as the other person agrees with it.

An introduction to cryptocurrency and its world

introduction to cryptocurrency

If now that you know what is you are interested in maybe entering this world, a way to start this introduction to cryptocurrency is by buying some crypto currency. To be able to do this you need to know exactly which one you want to buy since most of them require a digital wallet and some have one specifically for it.

You can get them by two ways, the simplest one is by buying it, and you can do this when you create a wallet since all of them with come with an integrated purchase process. Once you have it you will be able to link your digital wallet with your bank account, so you will see a Buy/Sell Bitcoin link, and after that all you have to do is enter how many you want to buy and then click on the button that says Buy Bitcoinsand when the transaction has been finalized you will receive a notification.

The other option you have is mining for this coins, but that will be more expensive, and it might take a lot more time, but if you are willing to do this you will have to put a lot of effort into it if you think it’s gonna be worth it.

What can I do with these?

After you’ve managed to get them, what can you do with them? There are a lot of things that you can do with them, so are gonna try and list them out.

If you invest in them, but know that the prices are very volatile, make sure that you don’t invest more than you are willing to lose, but you can buy some and when you see the market at  a very high point, you can exchange it for dollars or any other currency, or simply sell it.

Another thing that you can do is pay someone that’s in another country with these, since this way neither of you will be thinking about in which currency they will have to pay since it will be worth it for the both of you.

But since it’s gaining so much popularity you will be able to find some places where you can pay for certain services with these, and others you will only be able to pay with these. So if you are willing to take a chance with this market, you will be one of the few people that will be able to pay when other places adapt to this new crypto currencies around the world.