Blockchain and cryptocurrency

Blockchain is a record of all the transactions involving cryptocurrency in a well-defined form of ledgers. As the name suggests, it is a kind of chain which is very difficult to tamper, modify and hack, making it extremely reliable and fault-tolerant. Cryptocurrencies on the other hand are digital currencies which unlike traditional currencies are not centralized. Their trade is possible in a decentralized manner, which means there is no third-party or government interference over who you can lend or receive cryptos from. There are many kinds of cryptocurrencies like Bitcoin, Ethereum, Litecoin, Cardano, Dogecoin, Polygon, etc. Among all these coins, Bitcoin is the most popular and widely known cryptocurrency. It is so famous and accceptable, that all the other coins are known as shitcoins. One can trade in cryptocurrencies in many forms. You can use either online or software, hardware or paper trading platforms. One way is to open exodus.com and download the desktop or android version of it, and get started with it. As simple as it seems to be, it is not so. There are multiple ways of doing it and often one needs to do proper research from trusted sites to get accustomed to all these businesses. Even while doing trading and sending cryptos in transactions, one has to be very carefull in terms of the encryption techniques and cross-verify whether his or her private-key is getting leaked or not. Apart from all these, there are a number of other factors too which one might consider to become a successful trader, and should keep himself updated about the market fluctuations. It is a very different game and one needs to invest carefully.
Published: 6th Jul 2021
Blog Image 3