What Is Cryptocurrency?
You can use Cryptocurrencies to buy goods and services and you can trade them for profit. In this article you can read about how to buy cryptocurrency and how to make profit and how this works.
How Cryptocurrency Works ?
So as you know this is not a physical currency So Cryptocurrencies is work using a technology called blockchain. Blockchain is a decentralized technology available across many computers that manage and keep records transactions.
Users can buy the crypto currencies from brokers, then store and spend them using cryptographic wallets.
How many cryptocurrencies available on earth?
You can not believe but more then 6,700 different cryptocurrencies are traded publicly. cryptocurrencies continue give you profit. The total value of all cryptocurrencies as on April 10, 2021, was $2.2 trillion.
Most Popular Cryptocurrency
There are many Cryptocurrency available but only few can give you real profit. Bitcoin is one of the most popular Cryptocurrency in world and their Market is $1.2 trillion. Ethereum is second most popular currency with $263.4 billion market.
And the third currency as per market value is Binance Coin with $87 billion market. and on fourth number is XRP with $81.8 billion market. and fifth number currency is tether with $45.4 billion market.
Where to buy cryptocurrency?
Buying cryptocurrency is depends on you country because every country has their own rule.
While some cryptocurrencies like Bitcoin are available for purchase with U.S. dollars. and other crypto currency require that you pay with bitcoins or another cryptocurrency to buy that crypto currency.
Are cryptocurrencies legal?
Cryptocurrencies is legal on most country but China, india has banned their use.
Buying and selling
You’ll need to create an exchange account to buy or sell crypto currency, put up the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until you’re ready to sell.
How many types of cryptocurrency wallets are there?
There are five types of cryptocurrency wallets in market. desktop wallets, paper wallets, mobile wallets, online wallets, hardware wallets. Remember You don’t need a wallet if you are trading cryptocurrencies via a CFD account but only when you are buying them.
Wallets are used to store, send and receive cryptocurrencies.