Basic Questions That Arise Beginner's Mind About Cryptocurrency.
Hello Everyone
Mostly people who are not aware of crypto, have some questions in their mind about crypto currency, for example,
What is crypto currency?
What is Bitcoin?
Who is the owner of Bitcoin?
How does it work?
Can cryptocurrency be converted into real money?
How can I trade in crypto currency?
These are some questions that are in mind of every new comer who dive in the world of crypto currency.
I will try my best to answer these questions to satisfy all the new comers.
What is Crypto Currency?
In simple words, cryptocurrency or crypto is a digital payment which is paid against goods and services by the company or a person by online transactions securely. As people are involved in banking system throughout the world to exchange money online. Cryptocurrency uses technology through computers called blockchain that is decentralized system that managed and records transactions.
2. What is Bitcoin?
Bitcoin is called the mother of all cryptocurrencies, it is a digital currency that was first introduced by Satoshi Nakamoto on january 2009. It was only value 0.008 of US dollar from the beginning and slowly it raised to $250 in 2013. So passage of time it was traded and its value increased. And now it has much value of $58833.16 (at the time of writing this article). And in the future, what will happen? It is a question in every new user's mind.
3. Who is the owner of Bitcoin?
Satoshi Nakamoto is the founder of Bitcoin, claimed Japanese nationality. He is the first person who gave the idea of blockchain transactions for digital currency. He is worth almost above $50 billion.
4. How does it work?
Cryptocurrency works through a technology called blockchain(a public digital ledger) and it is secured by cryptography. To understand its work, we can take an example of banking system where money is transferred from one bank to another bank online as digital currency.
5. Can cryptocurrency be converted into real money?
As we can do this, you now have many websites to convert your currency into real money, And you can convert your real money into digital currency as well, it is very easy to do these days, people are trading in digital currency more and more for profits, there are lots of websites/ exchanges that provide us this facility of conversion in the world almost everywhere.
6. How can I trade in crypto currency?
As I said above, you can convert digital currency into your local currency and you can convert local currency into digital currency as well so you have this facility and you can do online trading, in the same way you can earn a lot of profits while sitting at home knowing how to trade online?
I will continue to write articles on the basic information to guide new comers in very simple way, and I will tell you how can you create your account in the exchange/ deposit/ withdrew, trading and many other topics like this.
I hope you will like my article.
Thank you all:
@rashid001
@hassanabid
@haidermehdi
@jawad101
In this post Bitcoin is explained thougroughly. By reading this post anyone can trade of this coin.
Yes, but it is just introduction here.
Thank you.
Everyone thinks not reality defore doing. But after the practice she/he easily describe its practical value. As far as my knowledge is concerned. It can be easily converted into real money.
+Thank you so much @azamrai
Yes, it is. Thank you.
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You shared a lot of knowledge about cryptocurrency in your post.
Your post is really fruitful for all of us.
Thank you for reading post.
Sir azam sb your post is very interested and full of knowledge .
Thank you for giving us knowledge about cryptocurrency
Very nice
Thank you.
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You have explained basics of cryptocurrency in very simple and comprehension way. Your post is very informative for newcomers.
As you mentioned, if we earn cryptocurrency then it can be changed in to real money easily this is what we want.
Thank you very much for this. @ahmadchemist737
Sir azam sb your post is very interested and full of knowledge .
Thank you for giving us knowledge about cryptocurrency.
Thank you
Asslam Sir @azamrai sahb your post is very interesting and informative.
You shared a lot of knowledge about cryptocurrency in your post.
Your post is really fruitful for all of us.
Thank you, you will find such posts in this community.
I read your post. It is very interesting and informative post. I like your idea and photography very much. Very nice.
Hello, @warisnawaz
You have said,
In this post, i have not done any photography because the images are taken from given source below images. So be careful next time please.
thank you
Asslam o alaikum
Sir @azamrai sb your post is very interested and full of knowledge .
Thank you for giving us knowledge about cryptocurrency.
Welcome