Cryptocurrency Basics

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Cryptocurrency explained
Unlike cash that you can handle physically, cryptocurrency is a digital currency that can be exchanged for commodities, goods and services with other users. The word crypto takes its root in the word cryptography (which is used to secure and help transacting parties verify and confirm transactions).

What is cryptocurrency?
Simply put, cryptocurrency or virtual currency is primarily an internet-based medium of exchange. It uses cryptographical functions to conduct financial transactions between two parties through private and public keys.. Learn more..

How do I buy Cryptocurrency?
To start purchasing cryptocurrencies you must have a wallet. There are websites like this one  through which cryptocurrencies can be purchased. Most purchasers buy their cryptocurrencieshere with a credit or debit card and you can also cash out your cryptocurrencies to your bank account as well. Learn more…

What can I buy with Cryptocurrency?
Almost anything including pizza! Here’s a little history for you. In 2010, Laszlo Hanyecz made the first ever altcoin transaction when he bought two pizzas from Papa Johns in Jacksonville, Florida. Learn more…

What is wallet?
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. Learn more…

What is token?
Crypto Tokens represent tradable assets that are found on a blockchain (but they don’t have their own blockchain technology, they are based on other coins blockchain which offers smart contracts i.e. Ethereum, Komodo, Cardano etc.)

Creating Crypto a Token is much easier than creating a Crypto Coin as you don’t have to program them from the scratch or modify any codes. You can use any standard template on the blockchain – for example Ethereum (ETH), Komodo (KMD), Cardano (ADA) and many more, and the functionality of making crypto tokens is done through smart contracts; Programmable computer codes that execute themselves and don’t need any interference of the third party.Tokens are then created and distributed as free airdrops or Initial Coin Offerings Learn more…

 

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