Cryptocurrency wallets are vital for keep your Bitcoin, Ethereum or any other digital assets safe from others, it is like your bank account to the world of Cryptocurrency. After acquiring cryptocurrency on an exchange or from a broker, it is highly recommend to use a cryptocurrency wallet. Therefore, one has to know what it is and how it works. A cryptocurrency wallet consists of two elements— a private key and a public address.
Cryptocurrency has been very exciting in the technology and investing industry for the last 2 years. For the former, different variety of Cryptocurrency are built as a solution to solve problems that we face in the existing situation, eg Ripple (XRP) allows swift transfers of funds over many places with minimal fees, making it practical for remittance and forex usage
Cryptocurrency is quite a technological craze in 2017 to 2018. It’s a decentralized digital currency that enable transactions to be conducted swiftly at zero or low cost with greater anonymity. In short, making transactions of any value more efficient than traditional fiat transactions.
There are around 3000 Cryptocurrencies now that promises in some way or another to do the above. Some Cryptocurrencies have strong blockchain foundation powering the technology, some have great utility for better functionalities, others are just there to join the bandwagons. What you need to know about cryptocurrency, the digital currency based on blockchain technology27/9/2018
Cryptocurrency is a digital currency that uses cryptography for better security and provides anonymity
for users. It is purely digital, without any physical coins or notes. Cryptocurrency uses blockchain technology to store an online ledger of all transactions. It also provides a platform to transact and to mine which could not be altered or hacked. Every transaction is mined and verified by the ledger of each user in the market, making it almost impossible to forge false transactions entries. Cryptocurrency is also decentralized and distributed across multiple networks of thousands of computers, aka decentralized network instead of a central computer or server like traditional institutions. |