introduction to cryptocurrency

hi guys,
I’ve received so many messages about crypto trading since I went public with trading. And I thought I should do a write up to help people. Crypto currency is a digital currency. Just like how you buy aed, usd, gbp, etc. You can buy btc, ltc, eth, etc., the root concept is exactly the same the only difference is the implementation of the currency is different. Crypto currency is online based and its united. Therefore I can buy some bitcoin from Uk and spend it in Dubai without needing to go currency exchange and converting the money. Into another currency. That is the core goal of crypto currency. To trade without worrying about external factor.

however, as time moves on theres been a developing of the usage of crypto currency. crypto has now became an investment opportunity as the value has inflated at rate which has never been predicted before. 1 btc had a value of 900gbp last year now it has a value of 13,000gbp. thats an increase of 1400%. people have become millionaires through this. and is still on a rise. ltc coin has increased by 400% in the span of a month. Just as the value of these went up, the value of other currency have decreased and some of them have been discontinued, such as apple coin. It lost all of its value over night. So remember three is always a risk of loosing your money. People need to remember that there is always a risk of a loss. And that they shouldn’t never invest without doing prior research, such as how accessible it is. What the total mining capacity it is and what company is sponsoring the company.

When investing your money, theres always a potential of loosing it. But what you need to do is make your loss a profit as well. Sounds confusing ? But wait, let me explain. Just like crypto trading theres strategy to make sure you earn money and how to do it. the first thing you need to is find a value that you feel comfortable to invest. just remember this is your initial investment and this isn’t guaranteed back to you. invest all of that in bitcoin. for example if you put roughly £60 you’ll receive roughly 0.0038 after transfer fees. then you leave it don’t touch it for at least a week or if theres a spike, which ever comes first. you’ll realise you wouldn’t of earn a lot but you would’ve earn roughly £20 (according to the current 40% week increase). thats when you take out your initial 60£. and you let your profit make profit on itself. this is a slow way but this is the safest way to invest. There is a possibility that the price will drop but due to bitcoin being the centre of the crypto world it is very unlikely to crash.

//the background running//
Bitcoin works because it’s a fully digital currency. It works by transferring data using a peer tao peer connectivity. Unlike other files a bitcoin cannot be duplicated it is actually an entry on a block chain which is a massive ledger. Therefore when you send someone a bitcoin you’re not sending them the coin itself you’re giving them ownership and it’ll be written in the ledger that you’re sending this person x amount of coins. bitcoin hasn’t got a centralised party looking after it. its decentralised. that mean people, anyone can do it, will update the ledger and because lots of people are keeping track of the same thing to make sure all transaction are safe. because everyone will be tracking the same data, it’s impossible for someone to change it without being caught hence why its safe.

//security//
crypto currency uses cryptography to identify the sender and receiver. which is done through keys. keys are basically big chunks of information which guarantees the sender is the sender and the receiver is the receiver. all your currency are saved in an online wallet which also contains 2 keys. one which is a private key and one public key. the private key signs all the coins before sending the data. then the public key is used to verify once the bitcoin is sent which is based upon the signature. if the public key gets accepted and the private key gets declined then the transaction will be cancelled.

This is only a small part from the research I have done. I’ve mainly focused on bitcoin for this write up however I will be adding a lot more write up in the nearby future as soon as I get time.
thank you

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14YHjoYJ2zjSqEFD93FVfA9vhw4RNf4EQ3

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