Getting to Know the World of Cryptocurrency.

Getting to Know the World of Cryptocurrency.

Many media are reporting about crypto for now, we hear a lot of people getting rich suddenly from that world, but we also hear a lot of people who actually lose big from crypto.

For those of us who don't understand this world, we must be confused and end up swallowing what is reported in the mainstream media or maybe a friend who doesn't really understand and is even told to join in a business model that doesn't make sense.

Hundreds of Bangka Belitung residents have fallen victim to Bitcoin pandas' fraudulent investments with total losses reaching tens of billions of rupiah, finally many people consider crypto to be a very scary thing to invest in.

Those of you who still don't understand what crypto is and want to start investing in crypto, those of you who already understand can use this post to help other friends.

What is crypto..?
Crypto is often also referred to as cryptocurrency, comes from two words, namely crypto and currency, currency means crypto currency from the Greek word which has ketos meaning hidden or secret so cryptocarensi is digital currency that uses a cryptographic system for security, with this cryptographic system currency digital cannot be faked.

This cryptographic system uses a netbook technology called Blockchain, Blockchain is a ledger whose data is not stored on one server or one computer, but is distributed to many computers and for transaction validation in the login system. It is necessary to check the data stored on computers around the world, they are the ones who help each other in the validation process and are often referred to as miners.

In other words, minerals are people who validate transactions using computer equipment and for their services to facilitate transactions they get a reward called a blog reward. Because the system is decentralized, cryptonic users do not need the help of third parties such as financial and banking institutions, cryptocurrencies actually allow us to carry out cross-border transactions at very low costs, quickly and safely without the help of financial institutions.

A technology that didn't exist in the past decade, to know more about how blockchain works you can browse some trusted websites.

What is the cryptocurrency..?
Cryptocurrency is a digital currency which is obviously not physical nor is it cash, but it can be traded. This currency began to be used all over the world. Crypto is not MLM with a pyramid system, crypto is not ponzi, crypto is not a tiered marketing business model, crypto is also not a money game.

Even though they cannot be physically seen or touched, Cryptocurrencies have value. Cryptocurrencies can be stored in a 'digital wallet' on a smartphone or computer. In addition, the owner can send Cryptocurrencies for buying and selling transactions.

Cryptocurrencies do not have a central issuing authority like banks or governments. Transactions are carried out anonymously and are recorded and secured using blockchain technology, which is similar to a bank ledger.