What is a cryptocurrency?
Cryptocurrency is digital money that supports blockchain technology, and there are more than 5,000 completely different cryptocurrencies in circulation such as Bitcoin and Ethereum.
How to get a cryptocurrency?
You may be looking for one of the ways to get a cryptocurrency safely, in general, I will tell you the three best ways, which are the following::
Step 1:Choose a platform
The first step is to select the platform and this platform uses the electronic platform in general, as it will enable you to choose between a traditional broker or a diverse exchange of cryptocurrency:
As for traditional mediators. These brokers are online and provide many ways to shop and sell cryptocurrencies as well as alternative monetary assets such as stocks, bonds, and ETFs. These platforms tend to offer lower trading prices and also more and more crypto options.
Cryptocurrency exchange. There are several cryptocurrency exchanges to decide on from, each providing completely different cryptocurrencies, storage notes, fixed cost calculation options, and more. Many exchanges charge fees based on assets.
When comparing different platforms, you will discover that all the information is registered as the cryptocurrency unit and the fees it charges, as well as security measures, deposit and withdrawal options, and any other educational resources.
Step 2. fund your account
Once you have chosen your platform, the next step is to fund your account, and thus you will be able to start your own business as most crypto exchanges allow users to have access to cryptocurrency trading legislation such as the British pound, and jealousy.
An important issue to think about is fees. These include potential deposit and withdrawal transaction fees and trade fees. Fees can vary depending on the payment methodology and platform, which are some of the things that should be analyzed at first.
Step 3. Put them in order
You can place an associate in the system to order currency via the internet as a broker or exchange on the mobile platform and you'll be able to do so by selecting "buy", selecting the type of order, entering in the amount of currency you wish to receive and the fixed method applies to sell orders.
There are also alternative ways to invest in digital crypto and such payment services as "PayPal" cash up, and others, which allow users to shop, sell or hold cryptocurrencies.
Is cryptocurrency safe?
Blockchain technology is used to encrypt digital currency. Blockchain demonstrates the way in which transactions are recorded in time-related blocks. This method is a complex and encrypted “technical process,” producing a so-called digital ledger of transactions for this cryptocurrency that has strong protection against tampering or hacking.
All transactions require a double authentication process, for example, you may be asked to enter your user name and password, and before starting the transaction, you must enter the authentication code sent to your cell phone via a text message.
But beware, while the securities are in place, this does not mean that cryptocurrencies are not hackable, but they have happened before and cost many hacks to startups thousands of dollars. The equivalent of 195 million US dollars and other companies that were hacked and stolen.
While the value of virtual currencies is fully driven by supply and demand but state-backed supply funds are not fully driven, so this can lead to extreme volatility that leads to big losses or big gains for investors. In the same context, cryptocurrency investments are subject to little regulatory protection compared to traditional financial products such as bonds and stocks, as well as, of course, mutual funds.