Everyone has heard how billionaires have bought Bitcoin and other crypto currencies as recently as a year ago. Not only is 1,000% or more of revenue possible, they have become commonplace with many crypto currencies. Someone who bought Bitcoin for less than $ 1 in May 23, had a gain of 5% in about 6 months. Then for the past few days, we have seen Bitcoin lose about $ 1000 dollars, so these crypto currencies have a big impact on volatility. Will be
Since the launch of Bitcoin in 25, in Trend News, we have been skeptical about the ability of crypto currency to survive, because there is a clear threat to governments that want to see all transactions and pay taxes. But while we may still be cautious in real crypto currencies, we are very aware of the potential of the underlying technology that powers these electronic currencies. In fact, we believe that this technology will be a significant disruption to how data is handled and how it affected Internet media, affecting every sector of the global economy.
Here are some questions and answers to get us started …
Q: What is crypto currency?
The most well-known crypto currency (CC) is & # 39; L Bitcoin CO. It was first launched in CC, today. Today there are more than 3 CCs including Ethereum, Litecoin, Dash, Jackash, Ripple, Monroe and they are all “virtual”. There are no “physical” coins or coins.
Q: How does CC work?
CC is the virtual currency that exists in very large distributed databases. These databases use blockchain technology. Because each blockchain database is widely distributed, it is considered a deterrent to hacking, as the attack has no focal point and is visible to everyone in every transaction network. Each CC contains a group of administrators, often called “miners,” who validate the transaction. A CC named Ethereum uses a “smart contract” to validate the transaction. Crypto Trends will provide more details on upcoming news releases.
Q: What is blockchain?
Blockchain is a technology that underpins all CCs. CC is entered into a block attached to each transaction chain for purchase, sale, or exchange. This technology is complex and will not be explained here, but it has the potential to revolutionize the financial services industry, as transactions can be executed quickly and easily, reducing fees or eliminating fees. The technology is also being tested for applications in many other industries.
Q: Are CC exchanges regulated by the government?
For the most part the answer is no, which is a big attraction for this market for some users. It’s the “Wild West” right now, but governments in most developed countries are testing this market to decide what controls might be needed. A major decision would be to consider CCs as currency or product / security. Canada and the United States have so far declared that CC is legitimate, but the situation remains fluid in reporting and taxation. CryptoTREND will follow and report on these developments.
Q: How do I invest in this market?
You can buy, sell and exchange CC’s using specialized “exchanges” that serve as brokerage. You start by selecting an exchange, setting up an account and transferring fiat currency to your account. Then you can buy and sell your CC order. There are many exchanges around the world. Opening accounts is fairly easy and these exchanges have their own rules about primary funding and withdrawal.
Crypto Trade CC will recommend the exchange in the future.
Q: Where do I put my CC?
You need to have a digital wallet to have the freedom to move your crypto currencies around and pay the bills. These wallets come in multiple formats such as desktop, cloud based, hardware (USB), mobile phone and paper. Many of them are free, however, because safety is a big factor because no one ever wants to lose their wallet or steal it. Crypto TREND will recommend digital wallets in the future.
Q: What can I do with my CC?
In addition to investing in CC products, you can also use crypto currency for some financial transactions, such as money transfers and bill payments. The list of cryptocurrency companies is growing rapidly and includes major hitters such as Microsoft, GAP, Jesse Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Djanga, Subway and WordPress.
Q: What’s next?
To begin with, we will keep each article in the crypto trend short and narrow the scope of each one as much as possible. As we mentioned earlier, we believe that crypto currency technology will be a game changer, and potential investment opportunities like this come up once or twice in a lifetime. Make no mistake, the initial investment in this sector will only be for your most speculative capital, the money you can lose.
Even if you do not want to invest in this time, getting an early idea of this new disruptive technology will keep you in the lucrative position of our recommendations as you move forward.
We hope to see more news and specific recommendations for the crypto trend as we begin this journey that may seem foreign to the forest at first. It is a volatile market and may not appeal to all investors, however, crypto trade is if you are ready and when.