Cryptocurrency!
- What is it?
A digital currency, used to make payments of any value without fees. In other word, it means cryptocurrency is one of the category under digital money. It runs on the blockchain, a decentralised ledger kept running by 'miners' - the computers, and are rewarded in bitcoins.
the money of future maybe?
- Who invented it?
Satoshi Nakamoto, a secretive internet user, invented bitcoin in 2008 and went online in 2009. Satoshi is now not yet been identified. No one really know who or what Satoshi is...
- What's it for?
People see value in money free from government control and the fees banks charge; as well as the blockchain, to verify transactions. Bitcoin has been seen as a tool for private, anonymous transactions and it's the payment of choice for drug deals and other illegal purchases
- What is Bitcoin Cash?
In August 2017, the blockchain forked to support another cryptocurrency, Bitcoin Cash, which is optimised slightly differently. People who held Bitcoin received an equal value Bitcoin Cash following this 'hard fork'
Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated maths problems that generate coins.
What are the most common Cryptocurrencies?
Bitcoin : bitcoin was the first and is the most commonly traded cryptocurrency to date. It has a market capitalisation of around $45 billion as of July 2017.
Ethereum: Developed in 2015, ethereum is the currency token used in the ethereum blockchain, the second most popular and valuable cryptocurrency. Ethereum has a market capitalisation of around $18billion as of July 2017. After a major hack in 2016 it split into two currencies, while its value has in recent months reached as high as $400 but crashed briefly to as low as 10 cents
Ripple: Ripple is another distributed ledger system that was founded in 2012. Ripple can be used to track more kinds of transactions, not just of the cryptocurrency. It has been used by banks and has a market capitalisation of around $6.3billion.
Litecoin: This currency is most similar in form to bitcoin, but has moved more quickly to develop new innovations, including faster payments and processes to allow many more transaction The total value of all Litecoin is around $2.1billion.
Why use cryptocurrencies?
Cryptocurrencies are known for being secure and providing a level of anonymity. Transactions in them cannot be faked or reversed and there tend to be low fees, making it more reliable than conventional currency. Their decentralised nature means they are available to everyone, where banks can be exclusive in who they will let open accounts.
As a new form of cash, the cryptocurrency markets have been known to take off meaning a small investment can become a large sum over night. People look to invest in cryptocurrencies should be aware of the volatility of the market and the risks they take when buying.
Because of the level of anonymity they offer, cryptocurrencies are often associated with illegal activity, particularly on the dark web.
In short, what do you think about cryptocurrency? is it safe? think about the bitcoin the criminal use.
A digital currency, used to make payments of any value without fees. In other word, it means cryptocurrency is one of the category under digital money. It runs on the blockchain, a decentralised ledger kept running by 'miners' - the computers, and are rewarded in bitcoins.
the money of future maybe?
- Who invented it?
Satoshi Nakamoto, a secretive internet user, invented bitcoin in 2008 and went online in 2009. Satoshi is now not yet been identified. No one really know who or what Satoshi is...
- What's it for?
People see value in money free from government control and the fees banks charge; as well as the blockchain, to verify transactions. Bitcoin has been seen as a tool for private, anonymous transactions and it's the payment of choice for drug deals and other illegal purchases
- What is Bitcoin Cash?
In August 2017, the blockchain forked to support another cryptocurrency, Bitcoin Cash, which is optimised slightly differently. People who held Bitcoin received an equal value Bitcoin Cash following this 'hard fork'
Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated maths problems that generate coins.
What are the most common Cryptocurrencies?
Bitcoin : bitcoin was the first and is the most commonly traded cryptocurrency to date. It has a market capitalisation of around $45 billion as of July 2017.
Ethereum: Developed in 2015, ethereum is the currency token used in the ethereum blockchain, the second most popular and valuable cryptocurrency. Ethereum has a market capitalisation of around $18billion as of July 2017. After a major hack in 2016 it split into two currencies, while its value has in recent months reached as high as $400 but crashed briefly to as low as 10 cents
Ripple: Ripple is another distributed ledger system that was founded in 2012. Ripple can be used to track more kinds of transactions, not just of the cryptocurrency. It has been used by banks and has a market capitalisation of around $6.3billion.
Litecoin: This currency is most similar in form to bitcoin, but has moved more quickly to develop new innovations, including faster payments and processes to allow many more transaction The total value of all Litecoin is around $2.1billion.
Why use cryptocurrencies?
Cryptocurrencies are known for being secure and providing a level of anonymity. Transactions in them cannot be faked or reversed and there tend to be low fees, making it more reliable than conventional currency. Their decentralised nature means they are available to everyone, where banks can be exclusive in who they will let open accounts.
As a new form of cash, the cryptocurrency markets have been known to take off meaning a small investment can become a large sum over night. People look to invest in cryptocurrencies should be aware of the volatility of the market and the risks they take when buying.
Because of the level of anonymity they offer, cryptocurrencies are often associated with illegal activity, particularly on the dark web.
In short, what do you think about cryptocurrency? is it safe? think about the bitcoin the criminal use.
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