Crypto as the function of money. Good or bad?
Why do we need cryptocurrency?
Cryptocurrencies give people a way to exchange values without using banks or publicly issued currencies. Banks charge fees for every transaction they process, while governments often print more money than is actually circulating in their finances. In addition, cryptocurrencies are not controlled by any central authority, which makes them decentralized.
How does blockchain work?
Blockchain technology is the backbone of cryptocurrencies. A distributed ledger called a blockchain keeps track of all transactions that take place in a given cryptocurrency. When someone sends bitcoins to another person, the sender signs the transaction digitally using cryptography. Anyone who receives a bitcoin can verify the signature and ensure that the sender owns the private keys needed to use these bitcoins. Once confirmed, the transaction is added to the blockchain, where it becomes public. This means that everyone can see it online, and no single device controls the network.
Is crypto legal?
Governments have been trying to regulate cryptocurrencies since the beginning, but so far none of these regulations have taken hold. Many countries around the world have tried to ban cryptocurrencies, but regulators do not understand how they work and fear that banning them will only force criminals to use them. However, young people have adopted crypto because it gives them autonomy and the market is decentralized.
Where can I buy / sell / trade crypto?
You can trade cryptocurrencies on many exchanges, including Coinbase. You can fund your account with a credit card, bank transfer, debit card or even PayPal. Most major exchanges offer trading pairs between US dollars and over 100 different cryptocurrencies.
What if something I should invest in?
Investing in cryptocurrencies is not risky, but there are some things you want to avoid. Do not invest more than you are willing to lose, and be sure to include regulatory risk when choosing which coins to invest in.
Should I learn about crypto?
Absolutely! Crypto is a young industry with explosive potential for innovation. New projects appear every day. By learning about crypto, you will gain insight into how it works, and you will have the opportunity to join the exciting community of early users.
