Cryptocurrency

Cryptocurrencies allow users to make fast and secure online transactions. Because of them we can make easy payments directly between the buyer and the seller, without the need of a third-party, like for example, a bank.

Cryptocurrency transactions require minimal processing fees, which allows users to avoid the large fees charged by most banks and financial institutions.

The best-knowed cryptocurrencies are Bitcoin Ethereum and Ripple.

The word crypto comes from the Greek “cryptos” and means secret and hidden. It points to the cryptographic encryption of all components of the currencies. Cryptocurrencies such as Bitcoin Ethereum or Litecoin use their own blockchain. According to the Financial Market Authority, cryptocurrencies are split into three distinct categories:

1.

Exchange tokens

These are used to ensure the exchange of a stock exchange, such as a buy / sell trade, etc. on a stock exchange.Binance, for example, uses the BNB token. These tokens may rise in value if the stock market trades much is used.
2.

Utility tokens

These tokens are similar to a key that opens a door. What the key or door is depends on the particular benefit of the project and the token.IOTA counts eg. to these tokens. IOTA uses eg. the Tangel technology. We think that IOTA can facilitate a lot in the IOT world, and thus can increase in the long run. Utility tokens make up the largest part of all crypto currencies.
3.

Security Token (STO)

These tokens are a mix of crypto tokens and classic securities. There is a clear financial incentive in this token. For example, a security token. This token is clearly regulated by the regulator. It may be, for example, that dividends or other rewards value this token is increasing. The very latest ones are equity token real life tokens. These tokens are about what we already know in the traditional world, as tokens are clearly presentable, and are sold as such. For example,real estate

What is Cryptocurrency?

A cryptocurency is a digital currency that uses cryptography for security, which makes it almost impossible to counterfeit. Cryptocurrencies are based on decentralized blockchain system.

The best thing about them is that they are not issued by a central authority, which makes them immune to goverment interferance or manipulation.

Bitcoin is the first blockchain-based cryptocurrency, but there are also thousands of different cryptocurrencies with various functions.

Secure Online Payments

Cryptocurrencies allow users to make fast and secure online transactions. Because of them we can make easy payments directly between the buyer and the seller, without the need of a third-party, like for example, a bank. Cryptocurrency transactions are made using the software called „cryptocurrency wallets“.

When somebody wants to make a transaction, they use crypto wallet to transfer funds from one account to another. But in order to do the transfer, they have to know the „private key“ of the account they want to send to. Every cryptocurrency transaction is encrypted, and they are recorded on the public ledger via so called „mining“ process.

The Future of Cryptocurrencies

Cryptocurrencies are likely to become a viable alternative to FIAT currencies. The number of merchants which accept cryptocurrencies as a form of payment is rapidly increasing.

Over the last two years, various mechanisms for cryptocurrency purchase and usage have been developed, and the goverments have taken interest in it’s activity.

Cryptocurrencies are here to stay. The only question is how fast will it’s pace of development, integration and the adoption be.

The Most Popular Cryptocurrency

Bitcoin is by far the most popular cryptocurrency in the world. Bitcoin, as well as other cryptocurrencies give power to the people, instead of central authority.

Bitcoin is a decentralized system which allows users to trade while being completely anonymous, and without the rules of some financial institutions.

New Bitcoins are generated by computer solving extremely hard math problems – This process is called mining.

Ready to get started?

Start by scheduling a FREE Consultation with the expert.

Close Menu