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What is Cryptocurrency? Explained In Simple Words For Beginners

Evelyn Howard Evelyn Howard on September 29, 2022

If you’re unfamiliar with cryptocurrencies, they are a form of virtual currency that has become increasingly popular over the last few years. In some circles they have been hailed as the future of money and as an investment opportunity. Bitcoin is currently the world’s most prominent cryptocurrency, but there are hundreds to choose from. You can trade them online or hold onto them, with no real protection and a significant amount of risk.

In this article I will give you some basic information about cryptocurrencies, how they are structured and what their history is. I’ll also go over the advantages and disadvantages of investing in them.

What is Cryptocurrency?

Cryptocurrency is virtual money created to act as a medium of exchange that uses cryptography for security – the same thing that protects you when you log into your bank account and authorises transactions. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services.

Cryptocurrency is a bit like the gold standard, but instead of controlling how much money is circulating in the market, it’s about how secure the system is and how it’s structured. Cryptography gives cryptocurrencies a security layer that keeps them from being stolen and prevents cheating.

The History of Cryptocurrency

Well before cryptocurrency existed, virtual currencies had already been invented – they were just called ‘cryptocurrencies’ in the 1990’s. One of the most well known cryptocurrencies of all time is probably Bit Gold. It was developed by a group of programmers who wanted to create a currency that would have some backing, but wasn’t controlled by any central authority. They aimed to make their coins secure, anonymous and free from manipulation. They called them Bitcoin in reference to this.

Bitcoin was the first cryptocurrency to work using the Blockchain – a technology that allows information about all transactions to be shared across several computers. This means that anyone in the system can verify a transaction without any commissions or bank fees. It also makes it harder for people to cheat, because everyone can view the transaction history at any time.

How Are Cryptocurrencies Made?

Cryptocurrencies are made by mining. This is the process where transactions are recorded on the blockchain and new coins are created. Since there is no central bank, new coins can only be obtained by solving cryptographic puzzles – these solutions need to be verified by other users of the system. The person who provides this verification is rewarded for their work by being given a pre-determined amount of cryptocurrency in return. This amount varies from one cryptocurrency to another, but certain cryptocurrencies have a finite number that can ever be mined, which means that eventually no more coins will be created.

How to Buy Cryptocurrency

To buy cryptocurrencies, you will first need to find an exchange where you can buy them. There are dozens of exchanges available, many of which offer a wide range of cryptocurrencies. Once you have found an exchange, you will need to create an account and fund it with either fiat currency (e.g. USD) or crypto currency (e.g. Bitcoin). Once your account is funded, you can start trading cryptocurrencies.

How to Use Cryptocurrency

There is no one-size-fits-all answer to this question, as the best way to use cryptocurrency depends on your personal preferences and experience level. However, here are some general tips for using cryptocurrency:

1) Start by reading up on what cryptocurrency is and how it works. This will give you a basic understanding of how the technology works and help you decide if it’s right for you.

2) Once you understand how cryptocurrency works, get yourself a digital wallet where you can store your coins. This will allow you to easily access your coins and make transactions.

3) Learn about the different types of cryptocurrencies available and pick one that suits your needs and interests. There are a variety of different cryptocurrencies available, so it’s important to choose one that is suitable for your investment strategy and goals.

4) Make sure to stay up to date with news and announcements related to cryptocurrency, as this will help you make informed decisions about your investments. You can find all the latest news and updates by following major cryptocurrency platforms or blogs.

5) Don’t forget to have fun with cryptocurrency too! It’s a technology that can be used for a variety of purposes, including buying goods and services, making payments, and even investing in other cryptocurrencies. So don’t be afraid to experiment and see what works best for you.

There are a variety of ways to use cryptocurrency, so it’s important to experiment and find what works best for you. By following these general tips, you can start using cryptocurrency to your advantage and make some lucrative investments!

Advantages and Disadvantages

Bitcoin is the most well known cryptocurrency, but there are hundreds of others to choose from. Some of them have been around for a long time, while others have just become popular recently. In this article I will go over the advantages and disadvantages associated with investing in cryptocurrencies.

Advantages

Cryptocurrency has a lot of potential in the future – maybe even more potential than Bitcoin itself. Because of their decentralized nature, cryptocurrencies are not controlled by central banks. Since they are not tied to a government, they can be traded internationally and do not have to follow economic policies. This makes them a safe haven in times of economic uncertainty.

Cryptocurrencies can also be used to transfer money much more quickly than through traditional banking methods. Since there are no intermediaries or commissions involved, this makes cryptocurrency much cheaper than regular money.

Another benefit of cryptocurrency is the ability to protect your anonymity. Since you don’t have to provide a name or bank account number, you are in control of who has access to your information and how it is used.

Disadvantages

Since there is no central authority controlling cryptocurrency, security can be a major concern. If someone hacks into your wallet from the Internet, they could steal every single one of your coins. Because each one has a finite number, you won’t be able to get them back and every single coin will be worth less.

Since cryptocurrency is so volatile, there is a high risk of investing in it without knowing all the risks. Cryptocurrency can be much more volatile than regular money so you are more likely to lose money by investing in it than in anything else.

Another disadvantage of using cryptocurrency is the fact that it’s not backed by any central entity. If a bank or a government collapses or decides that they don’t like cryptocurrency, the money will be worthless. This is why I suggest only investing what you can afford to lose.

Conclusion

Cryptocurrencies are the future of money and they have huge potential in the future. Now is therefore a great time to learn more about them so you can start investing today. Remember that it’s not a good idea to invest with money you can’t afford to lose. Make sure you are aware of all the risks before you get started.

Thankyou for reading this post, and we hope it was helpful! Please leave a comment, or check out some of our other posts on Metadigest.io

Crypto Banter A Live Streaming Channel

Evelyn Howard Evelyn Howard on September 9, 2022

Crypto Banter is a live streaming channel that delivers the most recent cryptocurrency news, market updates, and fundamentals. This channel was created and is ran by crypto enthusiasts. You can find a variety of topics on the channel including but not limited to; Bitcoin, Ethereum, Litecoin, and Ripple news as well as live cryptocurrency data from coinmarketcap.com. Crypto Banter also has a free newsletter that you can sign up for on their website.

Crypto Banter is hosted by its founders, crypto enthusiasts who just want to share their passion for cryptocurrency. Their mission is to bring new and exciting information about this fast-growing industry to the masses. Their goal is to teach others how they can take advantage of opportunities with virtual currency every day.

You can find Crypto Banter’s live stream at www.cryptobanter.com
and at www.twitch.tv/cryptobanter
As well as the Crypto Banter app, which is available for Android on Google Play and Apple on iTunes.

Crypto Banter received a great reception. The positive reviews and comments helped increase the viewership of their stream. Crypto Banter currently has a massive following of over 3500 daily viewers and has been growing in popularity tremendously. But the best thing about this channel is that they have a large active following on social media including facebook, twitter, youtube, and reddit, which gives them an extra boost in their ability to reach out to more people as well as improve their brand.

Crypto Banter Youtube channel

Crypto Banter Youtube channel has over 579K subscribers and growing. They produce a wide variety of content varying from Cryptocurrency reviews to market updates. Crypto Banter has also started to release educational videos ranging from beginner talks about Bitcoin, ICOs, and more advanced topics like the future of cryptocurrency. The videos they have released so far have been very well received by their followers. You can catch their Youtube content on their Youtube channel.

Crypto Banter Facebook

Crypto Banter’s Facebook page has over 117K likes and growing. They post cryptocurrency news, market updates, and more. The best way to stay updated on the most recent crypto news is to follow their facebook page. You can also comment on their posts to ask questions or have discussions with other crypto enthusiasts.

Crypto Banter Twitter

Crypto Banter Twitter page has over 269.1K Followers and growing. They post cryptocurrency news, market updates, and more. You can stay updated on the most recent crypto news by following their twitter page.

Crypto Banter Instagram

Crypto Banter’s Instagram has over 82.2K Followers and growing. You can find cryptocurrency news, market updates, and more. You can follow Crypto Banter’s Instagram page for all the latest crypto news.You can also comment on their posts to ask questions or have discussions with other crypto enthusiasts..

Crypto Banter Specialties

Crypto Banter specializes in analyzing cryptocurrency news, market updates and fundamentals. They also offer high quality trading insight to help identify the best time to invest. In addition, they offer several educational articles on cryptocurrencies. Their goal is to help you understand how this new form of currency works and how you can benefit from it.

Crypto Banter was created by crypto enthusiast, Ran NeuNer the founder and host of CCN Crypto trading banter. He wanted to share his passion for cryptocurrency with the masses. With his help, you can stay up-to-date on the latest cryptocurrency news and how you can take advantage of opportunities in this fast growing industry. Their goal at Crypto Banter is to become the most reliable source for all things cryptocurrency related.

Main Products:

Cryptocurrency News, Market Updates, and educational videos.

We offer a variety of cryptocurrency news ranging from Bitcoin, Ripple, Ethereum and Litecoin. Crypto Banter also give live cryptocurrency data from coinmarketcap.com to help you make the best decisions for your investments. We offer many educational videos about the future of Cryptocurrencies as well as buying, selling and trading fundamentals for beginners in this new industry.

Headquarters:

3 Dock Road, Waterway house, Cape Town City Centre, Western Cape 8002, ZA

Company size:

We are a team of 2-10 People

FEEDBACK:

Crypto Banter has got a fantastic and unique vision. The content range is very vast and the team has been able to work with different streamers to get the most innovative content from different niches of crypto. This provides a great opportunity for growth.

Crypto banter looks to be a promising project for the coming future in crypto media. With the way crypto is growing, it is necessary to provide people with a resource that makes all aspects of crypto available to everyone in an easily understandable format. It’s this simplicity and overall knowledge which will lead them to success.

For the time being, Crypto banter is one of the better channels available to everyone. Due to their content and simplicity in their choice of topics, they are able to engage a wide range of viewers. And since they have a potentially wide audience base, it would be a good marketing strategy to utilize this potential as much as possible.

The most important thing to realize is that Crypto Banter is only just beginning. They plan to continue growing their following and gathering followers, which will lead them to success. They are a young company whose potential for growth is huge.

Thankyou for reading this post, and we hope it was helpful! Please leave a comment, or check out some of our other posts on Metadigest.io

Top Reason : Why did the cryptocurrency crash Today ? 

Lily Sanders Lily Sanders on August 20, 2022

It is clear that the crypto room is guided by volatility. Investors have witnessed the cryptocurrency crash and then soar to the best elevations within a jiffy. It is the very volatility of the space that has actually brought in profit-builders for many years. On the other side, this element postures to be nerve-wracking for investors aiming to develop a sustainable crypto profile. In current times, the cryptocurrency fallen has actually led to a wave of a global scare. Properties have actually been extremely crashing with top tokens considerably sliding.

The losses have actually ranged from high margins of anywhere in between 30% to 90%. Bitcoin, the largest player on the block, has instantly plummeted below $30,000. While the ongoing crypto market accident reassures us of the feasible fall as well as development of crypto properties, it is likewise vital to remain well-equipped. Without additional trouble, allow us to assist you understand how to ideal prepare for a cryptocurrency crash.

What is cryptocurrency ?

A cryptocurrency (or crypto currency) is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. The first decentralized cryptocurrency was Bitcoin in 2009. Today there are hundreds of other cryptocurrencies with various functions and specifications created from this technology. [1] The most common cryptocurrencies are Bitcoin, Ethereum, Litecoin, Ripple (XRP), NEM, Dash and others.

WHY IS THE CRYPTO MARKET CRASHING?

Yes, the crypto market has actually plummeted to an all-time low over the past couple of days. It has actually seen a value-dip of virtually 56 percent, leaving investors fretting around the world. Professionals think that there are numerous factors at play. To begin, the worldwide monetary market is fighting a boost in rising cost of living. There is expanding tension in Russia and also Ukraine while the economic situation of Sri Lanka is ending up being a growing number of unsteady. The present happenings have a substantial impact on the performance of the financial market. 

Nevertheless, the crypto market is observing a fairly deeper dent due to the quick sell-off sentiment amongst capitalists. These collective elements eventually put in immense pressure on the total performance of crypto assets.

When was the CRYPTO MARKET CRASHING Before?

Economic down trips as well as abrupt market dips belong of the economy. These stressful durations work to create a healthier system. It is not the very first time that the crypto market has observed a drinking accident. Over the years, there have actually been durations of dips with sustainable highs.

Back in July 2021, the crypto market did jolt downwards before making an ascendance. The globe’s largest crypto property i.e. Bitcoin went down to the value of $27,194 (as on May 12, 2022), equally as it did in January 2021. It has currently lost over half its value since it hit its top of $68,990 in November 2021.

Top 4 Reasons for the Cryptocurrency Crash

1. The specter of rising cost of living 

Part of the allure of cryptocurrencies was that they were meant to be insulated from the inconsistencies of inflation. While the value of the buck endured throughout durations of an overheated economy, many expected cryptocurrencies to remain unwavering. In this way, individuals saw cryptocurrencies operating in the mode of timeless, historical inflation bushes like gold. Regrettably, major cryptos like Bitcoin as well as Ethereum have actually not worked effectively in this ability over the past six months, as inflation has continued to climb and also their worth has not held steady.

Part of the reason for this failure of cryptocurrencies to live up to expectations as a rising cost of living hedge may relate to simply exactly how serious this period of economic overheating has actually become. As of March 2022, the rising cost of living price of 8.5% was the highest in over 4 years. A month later, in April, it had actually slowed just fractionally to 8.3%. With the cost of everything from automobiles and also fuel to grocery stores and airplane tickets rising, individuals could actually be drawing their cash out of non-essential investments– which, for many, cryptocurrencies qualify as. 

2. The end of the pandemic-era impact 

The duration from March 2020 via a lot of 2021 will certainly highly likely be born in mind as the dismal zenith of the pandemic age. Instead of forking over disposable income on enjoyment, lots of people with the ways to do so rather invested it in both the stock market and a variety of incipient markets, consisting of cryptocurrencies. This national and also international trend caused the months-long surge that eventually culminated in the all-time highs cryptocurrency holders experienced in the loss of 2021. 

Around that exact same time, though, the world was easing back into something looking like normality, and also individuals were beginning to reclaim even more optionality with respect to exactly how they invest their money. By very early 2022, all the abovementioned quests were mostly easily accessible once more. In other words, cryptocurrencies instantly needed to contend for individuals’ money with a large series of experiences that were not available to us for almost two years. Henceforth, cryptocurrencies would certainly have to endure and also thrive without the unexpected yet indisputable assistance of a global pandemic. 

3. Volatility among risk assets 

Although cryptocurrencies like Bitcoin and Ethereum have actually long been promoted by their impassioned, hyper-vocal fanbases as effective options to the stock exchange, the truth has actually become rather much more nuanced. Over the past numerous months, both forms of investment have actually ended up being progressively correlated with one another, and topples in the stock market now typically foretell proportionate or worse falls in the cost of crypto. Part of what’s taking place is that individuals are starting to view cryptocurrencies the method they perceive modern technology stocks– as high-risk, high-reward assets that might not be the very best financial investments during times of instability as well as turmoil. Which brings us to the final headwind. 

4. The war in Ukraine 

Ultimately, the recurring problem in Ukraine may be adversely affecting the rate of cryptocurrency. Throughout times of significant geopolitical uncertainty, individuals really feel even more comfy investing in the safest, most traditional and constantly tested asset classes. Suffice it to say, for all their considerable virtues, cryptocurrencies are none of those points. Why? Since if something disastrous were to occur that strongly drank the global economic climate, those risky assets would certainly probably be the most at risk.

Conclusion

In this article, we have highlighted the reasons why cryptocurrency crash prices. The truth is cryptocurrencies can be excellent investments at the appropriate time. The rate of cryptocurrencies is impacted by many factors like the cost of living, geopolitical tensions and also the instability between risk markets. With this guide, you have actually gotten a clear idea about the factors why cryptocurrency crash price.

I hope this short article was helpful to you as well as if you wish to share it on social media websites after that do not hesitate. 

Bill Gates Reveals He Doesn’t Own Crypto, Explains It Doesn’t Have Valuable Output

Hector Andrews Hector Andrews on May 24, 2022

Photo: Inc

Since cryptocurrency became a thing in the past decade, millions have invested heavily, including major celebrities, athletes, and musicians. However, some of the wealthiest people in the world have not been as active in the crypto market, including the fourth-richest person in the world, Microsoft co-founder Bill Gates. On a Reddit Ask Me Anything, Gates opened up on the subject when a user asked his thoughts. 

“I don’t own any,” Gates revealed. “I like investing in things that have valuable output. The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone will pay for it, so not adding to society like other investments.”

The crypto market crashed and burned earlier this month, erasing $200 million in 24 hours. Fortune’s Marco Quiroz-Gutierrez reported that the rising inflation, interest rate hikes, and geopolitical instability may have contributed to the crash.

While Bill Gates’ comments may have surprised many, he had previously expressed his disapproval of cryptocurrency in the past, warning people who were delving into crypto investments to be wary about buying into the crypto boom. His warning was directed especially to people who didn’t have the luxury that Tesla and SpaceX founder Elon Musk enjoyed.

“I do think people bought into these manias, who may not have as much money to spare,” Gates told Bloomberg one year earlier. “So I’m not bullish on Bitcoin, and my general thought would be that, if you have less money than Elon, you should probably watch out.”

Last year, Gates told Bloomberg that he had taken a neutral view and added that crypto was a tech innovation the world would be better off without. “The way cryptocurrency works today allows for certain criminal activities,” he noted. “It’d be good to get rid of that.”

The Microsoft co-founder’s stance on cryptocurrency echoes Berkshire Hathaway’s CEO Warren Buffett, who explained in detail why he wouldn’t invest in Bitcoin or cryptocurrency earlier this month.

“It doesn’t produce anything,” Buffett said of Bitcoin. “What would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything.”

Apart from the financial aspect of cryptocurrency, Bill Gates also expressed his disapproval of its environmental impact, which accounts for a large portion of the world’s energy consumption.

Wonkey Donkeys Enter NFT Space to End Injustice toward Hard-Working Donkeys

Hector Andrews Hector Andrews on February 9, 2022

Donkeys have long been tied with the idea of strength as they are known to endure even the heaviest weights at long distances. But sometimes, their strength is also abused. Wonkey Donkeys aim to put an end to the injustice done to donkeys worldwide by filling the NFT space with powerful donkeys equipped with many utilities. 

Wonkey Donkey is a den of degen donkeys that were neglected by their careless farm owners, who are now making their way to the digital space to maximize their strength. The donkeys were mistreated and experimented on by their owners. Today, they seek retribution. The experiments harmed many of the donkeys but also left some with special powers and empowered them to rise against their oppressors.

Wonkey Donkeys are governed by a smart contract that prioritizes transparency within its community and ensures that no NFTs are duplicated. In addition, the team employed a trusted in-house developer that guaranteed each selected trait is verifiably random and is generated in real-time upon minting, thus eliminating the waiting time for token reveals. 

Furthermore, Wonkey Donkeys is revolutionizing its process by eliminating Ethereum gas fees through its unique ticketing system built to help its community save as much as possible, which allows holders to claim their purchased NFT when gas fees are at their lowest. 

In addition, the founders also revealed that they would be releasing an eComic book featuring a gang of Wonkey Donkeys. The story will revolve around the donkeys’ plight to fight back against the evil farm owners. The eComic will be limited, and the proceeds will go towards charities and fund campaigns raised for donkey sanctuaries and other projects that support anti-donkey cruelty campaigns.

In addition, the team behind the Wonkey Donkey collection, Digital Fever, has revealed that holders of the Wonkey Donkey token will receive several benefits from them. These benefits include whitelist and private sale opportunities and networking events.

On its roadmap, Wonkey Donkeys stated several milestones they want to reach. Upon 25% sellout, the project will be unrolling an innovative marketing plan to spread more awareness of the NFTs, conduct a community giveaway, announce its first celebrity partner, and release a teaser for its upcoming eComic. At 50%, the project will have a huge celebrity drop, founders will have more inside look to the eComic, and the Donkey Den NFT staking game will commence production.

At 75% sellout, Wonkey Donkeys will introduce the villains the NFTs have to defeat, release its highly anticipated eComic, and open the Donkey Coin Community. Finally, at 100%, the founders will provide original holders with a physical copy of their Wonkey Donkey NFT, release 100 villain NFTs, provide monthly comic drops, and launch the official Donkey Coin. By this stage, the creators will also be integrating the Donkey Coin with the Donkey Den NFT staking game, which will provide holders with another avenue for generating income. 

To give interested collectors a chance to stake their claim on Wonkey Donkeys, the founders will be limiting the purchase to three NFTs during the pre-sale and ten NFTs during its official launch. The creators are yet to announce the date of the project’s launch, the pre-sale, as well as the official minting price.