Cryptocurrency is one of the most talked about subjects in the news today. There are many people who want to know how they can get into this field and make money. This article will give you some basic information on what it is and how you can start making money with it.
What is cryptocurrency?
It’s basically a type of currency that has been created by a computer program. It is based on mathematics, cryptography and distributed ledgers. This means that there is no central bank or government that controls it. It is completely decentralized.
The first cryptocurrency was Bitcoin which was created in 2009 by an unknown person using the name Satoshi Nakamoto. He published a paper on the idea of a peer to peer electronic cash system. The paper is called the whitepaper. The white paper was written to explain the technology behind bitcoin and how it works.
How does it work?
The main idea behind cryptocurrency is to create a digital currency that is secure, anonymous and untraceable. To achieve this, the system uses cryptography. It is a form of encryption. In order for the cryptocurrency to be used, it must be stored on a public ledger known as the blockchain. This is a list of transactions that is stored on the internet. This ledger is updated by each user that makes a transaction.
How do I use it?
You can buy, sell and trade cryptocurrency just like any other commodity. You can also convert your existing money to cryptocurrency. You can even exchange your cryptocurrency for fiat currency such as dollars, euros and pounds.
Where can I find out more?
There are many places where you can learn more about cryptocurrency. You can read articles online about it. There are also videos that can help you understand it better. You can also ask questions on forums and chat rooms. You can even attend meetups and conferences. You can also join groups on social media platforms such as Facebook and Twitter.
