In this video, we will cover everything related to cryptocurrency, like what is a cryptocurrency, why you should buy cryptocurrencies, and how the whole process works.
What is cryptocurrency?
Cryptocurrency is a decentralized digital asset or currency that you can use for online transactions to buy goods and services or even investments to make profits.
It is not like physical paper money that you can touch; instead, these currencies are made from computer coding and stored in some sort of a digital form or space, from where you can sell, exchange or transfer them.
Why Should You Buy Cryptocurrencies?
– Gives you control over your money value and protects you from factors such as inflation
– Keeps your transactions and information safe from hackers.
– Saves your pocket from third-party fees.
– Gives a chance to earn hefty profits in future.
How does the cryptocurrency transaction take place?
– You log in to your digital wallet.
– Other network members add your transaction to form a new block.
– This block gets added to a chain of blocks called blockchains.
– Once the transaction is made, miners have to solve a new complex math puzzle to add a new block, and they also get a chance to earn rewards.
– This process is called mining and adds a new crypto block into the market.
In this video, we also discuss how you can buy cryptocurrencies and what are some of the best cryptocurrencies that you should aim to buy.
For more details, you can refer to our article at- https://www.wallstreetmojo.com/cryptocurrency-top/
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