Table of contents
Bitcoin price for this Wednesday 27th July
What is a cryptocurrency?
A cryptocurrency is an intangible and decentralized means of payment as an alternative to traditional currency. This asset class allows you to transact using digital cryptography which provides security without the need for intermediaries. Cryptocurrencies have the same uses as any other physical currency.
The “Kryptos” are based on a decentralized computer network where globally distributed nodes operate with copies of all transactions made. Each cryptocurrency has its own algorithm that manages the number of new units issued each year. This decentralized computer network with several nodes is called a blockchain, similar to a “book of accounts”. Its blocks or nodes are cryptographically connected. Each block links a previous block, a date and transaction data and is inherently resistant to data changes. This network is open and records all transactions made by users. When a transaction is made, it is recorded in a block and automatically replicated to the rest. This means that the data cannot be modified or manipulated without modifying the rest of the blocks.
The value of the currency is variable and depends on the buying and selling of its users, so it is not recommended for novice investors or those with no information.
The top ten cryptocurrencies on the market are Bitcoin, Ethereum, Tether, BNB, USD Coin, XRP, Terra, Cardano, Avalanche, Solana. Their position in the list depends on the market capitalization. There are 100 currencies in total.
What is Bitcoin and how does it work?
The first cryptocurrency was Bitcoin, created by “Satoshi Nakamoto”, the pseudonym of its anonymous creator. This person published an article in 2009 describing a 2P2 (peer-to-peer) payment system that he called Bitcoin. Bitcoin has three functions: as a unit of account, as a medium of exchange, and as a store of value (although the latter is questionable due to its volatility).
It is the most traded and market leading currency.
What is Ethereum and how does it work?
Ethereum was developed in 2015, Ethereum is a blockchain platform with its own cryptocurrency called Ether (ETH) or Ethereum. It is the most popular cryptocurrency after bitcoin.
The platform was created in 2015 by programmer Vitalik Buterin with the aim of creating a tool for decentralized and collaborative applications. Ether is a token that can be used in transactions using this software. Like Bitcoin, Ether exists as an autonomous peer system, free from government interference.
How to buy cryptocurrency in Argentina?
Basically, a user must be open to an exchange that allows cryptocurrency transactions. The second step is to connect the virtual wallet or exchange to transfer cryptocurrencies from the exchange to it using the keys. buy bitcoin It is moved to the wallet or left in the exchange user. In Argentina there are several companies that offer this service such as: Decrypto, Quantia and Cedro.
More cryptocurrency news
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