Cryptocurrencies are means of economic exchange using cryptography to make transactions secure and control the creation of new units.
Cryptocurrencies part of what has been called the internet of value (IOV or Internet of Value) or category of applications specialized in economic exchanges through direct negotiations between the buyer and the seller, without the intermediation of any bank or financial entity. This makes transactions tend to be cheaper and faster.
What was the first cryptocurrency to appear?
The first cryptocurrency to appear was bitcoin, in 2009. There are currently many others, such as Litecoin, Ethereum, Ripple, Dogecoin, Dash, Zcash and Monero.
Where can cryptocurrencies be bought and sold?
- As with physical money, you can find many informal sites that allow you to exchange cryptocurrencies.
- As with traditional currencies, you run unnecessary risks when you make these non-formal transactions.
- It is preferable to go to established and recognized stores, where the risk of loss of your resources is lower.
- The quality of these businesses is established in accordance with variables of security, extension or extent of the business, reliability and quality in the exchange, liquidity, fees, limits established for the purchase and withdrawal, volumes of movement, insurance systems and accessibility.
- Before opting for one or another exchange house, investigate these aspects, especially when you are just entering the world of cryptocurrency investments.
- Surely the dividend rates will be higher in less recognized sites, but the risk is also increased.
- While this is a risk business, it is necessary to take some protective measures to minimize the possibility of loss.
- One of the best known houses to buy and sell cryptocurrencies is Coinbase.
In Mexico, for example, where the record figure of $ 242,000 in financial movements has already been reached in 2017, the Bitso, Volabit, Isbit and Localbitcoins services can be used, mainly. There are already three ATMs for bitcoins in Tijuana, La fonda and Mexico City.
In a similar situation there are other countries in the area. This shows that the market is just emerging. It is bad? Not at all. On the contrary, for investors it is a good time because the profits will be greater.
To buy and sell cryptocurrencies on these pages the process is very simple. So it is easy to make money with bitcoin
- Access the tab for buying and selling bitcoins or the currency you have chosen.
- Select the payment method.
- Record the amount of the transaction.
- Confirm the transaction.
- Check your accredited bitcoins in the control panel
- Now you will be glued to the screen watching the movements of your currencies.
Each platform will offer you different types of cryptocurrencies, so it is important that you do a systematic exploration exercise to identify which or what are the best options. To secure your currencies and keep the risks arising from the collapse of the platforms to a minimum, you can hire the services of myetherwallet.com.
How are your cryptocurrencies secured?
In the case of cryptocurrencies, these agencies do not physically store anything. It is all about information bites that are not stored in the same place and that do not exist physically, except as binary representation.
What is the evidence with which you can show that you have bitcoins?
- What you have as evidence of economic exchanges are the records of transactions stored as digital block chains.
- Everything will be written in Blockchain, something similar to the great cryptocurrency book, in which absolutely all the transactions made with this type of currency are registered.
- To make this evidence available and secure, there are software programs called cryptocurrency wallets or wallets.
- They are responsible for storing private and public keys, linked to several block chains that encrypt their content and make it virtually inviolable. Its function is to allow economic exchanges and show personal balance.
If you lose that number you will have lost your currencies because there will be no way to recover them. The same happens when you send money, by mistake or trap, to whom you do not owe: the transactions are not reversible and you will not be able to recover the funds once the transaction is confirmed.