Layman’s Guide To Cryptocurrency and Bitcoin

You’ll be surprised to know that 99% of crypto currencies are scam. In fact, right now over 900 different types of cryptocurrencies exist. BUT still, we think that it’s good for you and you must be wondering why?

Layman’s Guide To Cryptocurrency and Bitcoin
Layman’s Guide To Cryptocurrency and Bitcoin | img src:

Cryptocurriencies are a backed by software that has no human agendas involved. This means there is a standardized and neutral confirmation policy that is backed by software. Cryptocurreny is our future, the next generation payment method. With money, gold or other electronic funds transfer, we need calculate transaction feeds and manage the human intervention between payee and payor, govt. etc. but with cryptocurrency, we have next-to-zero transaction fees with no human intervention, having high anonymity and even amazing functionality. The funds are easier to move, more private and secure.

Let’s just talk about bitcoin now!

Bitcoin is a type of electronic cash which is tradable throughout the world. It can be operated without the involvement of banks too. To begin with, one needs to install a bitcoin wallet on your mobile phone or computer. Once done, it will generate your first bitcoin address which will be used by people to pay you. You may share this address with your friends, clients etc to get paid or make payments. Its works just the way email works though your bitcoin address can be used only once.

In today’s world, no one wants to wait especially when it comes to fund transfers, payments and other finance related works. With crypto curreny, things have become easier and faster.

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