Have you heard these terms dozens of times without really knowing what they are? Did you understand that there was talk of a new form of money, but you are not entirely sure? Nothing more normal! It is a phenomenon seen as geek and often misunderstood by the general public.

However, it is possible to earn money with cryptocurrencies. How do these new financial tools work? What are the challenges?

With cryptocurrency, it is now possible to buy clothes, furniture, IT equipment, and even airline tickets or hotel rooms online. The difference with a credit card? It is therefore possible to pay and be paid instantly and with very little cost – even internationally.

The blockchain is a database that can be compared to a decentralized ledger, which stores and transfers information via the internet in a transparent, secure manner, all without any control body. Decentralization requires, users are called upon to validate transactions.

Miners used in bitcoin

They are paid in cryptocurrency for the decryption work they do. Trust is shared among all members of the network – and transaction management is taken care of by the network collectively.

In truth, it is a pseudonym, because the true identity of the creator (s) of BITCOIN remains a mystery.

By being decentralized, no public or private authority can have control of this digital currency.

Crypto has experienced very lucrative developments in recent months, but the best is surely yet to come! Subscribe to news sites to learn more about upcoming trends and rising currencies. Who knows, maybe you will bet on the next Bitcoin? To invest in less known currencies, you can convert your Bitcoins on a specialized platform likebitcoin profit calculator

The two parties agree on the terms of a transaction. The buyer can acquire any product online (a house like a pair of shoes). To achieve this, he must send the seller a code. The bitcoin transaction generated automatically by the bitcoin profit calculator

The transaction is scanned and validated by minors who are part of the network, which authenticates the code and allows the seller to receive payment. It is an encrypted and encrypted process that guarantees a form of anonymity of transactions.

Once validated, the transaction is added as a “block” and constitutes the last link in the chain of transactions. This chain groups together all of the transactions, “blocks” carried out (hence its name).

Cryptocurrency is therefore a 100% electronic currency, which is based on the same principle of scale of values ??as that of conventional currencies – with the only difference that it is virtual. In order to use this virtual currency, you need an electronic wallet. These free wallets are available on computers and smartphones, via dedicated websites and applications.

If cryptocurrencies are on the rise, it is because they offer a lot of advantages compared to traditional payment systems:

Counterfeiting is impossible

Counterfeit cryptocurrency is impossible. Generated and encrypted using very complex codes, it has become the most secure payment system in the world: each Bitcoin is traceable in real time.

It does not depend on any authority

Cryptocurrency is neither controlled by banks nor by states. Money transfers are possible worldwide with very low fees and are extremely fast.

It is a real asset for traders who today donate a percentage of their turnover to banks for any transaction carried out using a bank card. Transactions are encrypted and locked – and validation is distributed among all members of the network. This makes blockchain a safe place, impervious to scams and hackers.

It is very easy to use

Some basic knowledge is enough to get Bitcoins and make transactions. Opening an account is quick and requires no documents.

It can constitute a financial investment

If you want to invest and earn money using cryptocurrencies, it is wise to train yourself to acquire the necessary skills – your return on investment will be much faster.

Learn cryptocurrency to earn money

While there are around 10,000 websites that accept virtual currencies transactions are still rare. Individuals who obtain cryptocurrencies do so mainly to invest: they can constitute a significant source of income for insiders!

Print Friendly, PDF & Email

About The Author

Copyright © Calculator.com 2017. All Rights Reserved