What Is Cryptocurrency
Cryptocurrency is actually currency transferred over the internet. They provide their customers with an opportunity to have access to their account in real time. When the economy began to get unstable, there was a need to create another type of currency. You can avoid the confiscation and setbacks that come with federal currency. However, cryptocurrency is currently, not under regulation. Unlike, federal currency, your money isn’t FDIC insured. Many people are turning to popular cryptocurrency as an alternative form of cash. Ironically, these type of cryptocurrency provides their own cash deposit and withdrawal system. Thus, with a few glitches, cryptocurrency has been a success among their users.
Short Bio: Cryptocurrency
Cryptocurrency operates on a block chain, this allows the users of the network to control their own money. For example, the government doesn’t have control over the block chain software that is used for popular cyprtocurrency users. They’re proud to say, with decentralization, they control their own money. Cryptocurrency started with technology that only their users could store information on, but it remains in the system and can’t be changed. The decentralization feature, although, still unclear to a lot of new cryptocurrency users, has caused many people to try their alternative source of funding.
Two Popular Forms Of Cryptocurrency
Bitcoin was a digital currency formed over the mind block technology. Many people call it Genesis technology because it was the first technology the Bitcoin was mined under. Their initial technology contained an algorithm and a secure mathematical software that minded the first Bitcoin. However, the first Bitcoin had to be created and then their users were able to mind a Bitcoin. Today, there are thousands of users successfully using the Bitcoin digital currency.
Litecoin was founded in 2011, and mimics the popular Bitcoin model. Created by Charlie Lee, many say, the Litecoin is silver to the gold Bitcoin. In fact, Litecoin is the only other currency that falls in a strong second place to other cryptocurrency currency like Bitcoin. They have been able to let many patrons pay for what they want online. You’ll be able to use their currency and make many secure online purchases. The make it easy to never have to worry about a secure currency. Thousands of people are using Bitcoin and Litecoin around the world.
Online currency works the same way as regular money, but it’s just controlled by the people that are using the currency. You invited to learn more by going online and research. Don’t be fooled by websites that offer free Bitcoin give-a-ways or promise an investment into the network. They should always carry a seal of authenticity to ensure, you’re dealing with actual online currency. Take advantage of their offers for cryptocurrency on their official website. Your transactions are processed securely online over their server. Best of all, none of your information can be changed to make sure, you’re getting the actual value of their online currency. Learn more about Bitcoin today.