It’s very important to learn the basics of cryptocurrencies if you want to get involved. This mini guide will be separated into two parts for an easier, better understanding. We hope to explain in a simple way and help you get the right decision.
Cryptocurrencies- What Are They?
Cryptocurrencies are simply put- the replacement of fiat currencies. The main goal is to use these kinds of currencies is to improve and fix the problems that regular systems have. For example, when using PayPal you are sending money electronically and it can take a lot of time and a lot of extra money. Bitcoin, for example, tries to improve this process by shortening the time and lowering the costs.
Are Cryptocurrencies Real Money?
In some way. We get that the concept is very confusing but this is what this guide is for, right? Many new companies are starting to use this payment method instead of a traditional one, accepting bitcoin as a real money for the favors the offer.
What About Blockchain?
The easiest way to put it- it’s a database. With a slight difference from what you already know about databases. A traditional database is stored only on one computer. A blockchain database can be distributed on thousands of computers for a very low cost. The information stored is highly encrypted and it’s almost impossible to expose the entire data file.
How Do I Buy Cryptocurrency?
You would have to find an exchange platform that you like the best. Of course, make sure before choosing one to learn everything about that specific exchange. We put down a list of few exchanges that we believe are a great option:
Most of these exchanges allow using a credit card just make sure you don’t store them on the platform itself.
Bank Of America Secures A Patent For Crypto Aggregation Systems
China’s Ping An Insurance Group To Build A ‘Smart City’ By Using Blockchain Technology
Blockchain ‘Smart Money’ Trialed By Australia’s Science Agency And Commonwealth Bank
“Our use of blockchain added new kinds of programmable behaviors to the smart money in the prototype system. This automation and flexibility could reduce friction and enable greater innovation in many payment environments and unlock network-effect benefits. This could include more directly connecting citizens to public policy programs, empowering people to optimize their spending through things like smart savings plans and smart diets, and reducing costs for businesses, including through the potential for self-taxing transactions.”This is not the first blockchain trial where the CSIRO was involved. Previously, the organization collaborated with the University of Sydney, testing a blockchain application on the cloud infrastructure platform of Amazon Web Services - finding that the application was able to achieve a speed of 30,000 transactions per second.
Iran Gets Removed From SWIFT, Considers Switching To Crypto As Planned
“The US has gone rogue, and cannot be allowed to dictate economic or political policy to the rest of the world. The sooner the rest of the world develops an alternative payments system – possibly working through SWIFT, but using a basket of currencies as the basis for a supra-national unit of exchange – the better. The USA is big enough to bully what should be an impartial means for monetary transactions between countries. This should not be possible.’’However, the Iranian Parliamentary Commissioner of Economic Affairs, Mohammad Reza Pourebrahimi, said that the country is working on a plan to involve cryptocurrencies as international payment methods cooperating with Russia. Already multiple businesses in Iran such as HotelsinIran which is a major booking platform started accepting cryptocurrencies as a payment method. Many experts believe that this is a perfect way for cryptocurrencies to gain mass adoption in Iran.
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- Bank Of America Secures A Patent For Crypto Aggregation Systems
- China’s Ping An Insurance Group To Build A ‘Smart City’ By Using Blockchain Technology
- Blockchain ‘Smart Money’ Trialed By Australia’s Science Agency And Commonwealth Bank
- The 30% Share Battle: Hundreds Of Crypto Exchanges Compete For Market Share
- Researchers At McAfee Spot A New Russian Malware That Mines Monero And Zcash
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