What is a Cryptocurrency?

What is a Cryptocurrency? 1

A Cryptocurrency is a digital type of asset that is used as a mode of exchange through cryptography to secure transactions and control the creation of new currency.

Cryptocurrency security

The security of cryptocurrencies is basically due to the difficulty of finding the bugs in the hash sets, a task performed by the miners. In practice, cryptography protects the security of transactions and therefore guarantees the possession of cryptocurrencies.

There is a theoretical case in which a single miner has 51% of the total mining power. In this case, the miner could change the blockchain and compromise the security of transactions, for example by changing the amounts or attributing cryptocurrencies that he does not own. It is, however, a purely theoretical speculation since absolutely nobody is able to control 51% of the Bitcoin mining network or of the other main cryptocurrencies.

Also Read: Stable Coin Tether (USDT)

Many experts suggest that even in the event of a 51% attack, other cryptocurrency owners could simply make a hard fork, i.e. create another cryptocurrency and then escape the attack. In any case, these are absolutely unlikely scenarios; we mention them only for completeness.

Much more concrete, however, is the risk of suffering other types of scams. Everyone knows, in fact, that cryptocurrencies are an excellent investment asset, an asset that has generated very high profits over the past few years for those who have been able to invest. The problem is that many scammers have taken advantage of the fame of cryptocurrencies to attract more naive investors into scams or Ponzi schemes. The only way to invest in cryptocurrencies safely is to use authorized and regulated platforms: these platforms are controlled by the European financial supervisory authorities and therefore guarantee very high security standards, identical to those offered by the banking system.

How to make money with Cryptocurrencies

The criptovalute represent a huge possibility of monetization, particularly easy to grasp even for those not expert. To achieve this without risk, however, it is really important to choose the right tools. Let’s take bitcoin as an example: curious to find out what Bitcoin will do in 2020? Well, first of all we are talking about the most famous Cryptocurrency ever. Buying bitcoins is apparently very complex: in fact only the most experienced until recently managed to speculate on bitcoins.

Now, however, bitcoin seems to have come out of the dark web, that is, from the dark part of the internet, to have entered the world of legal investments and in the light of the sun.

How to invest in bitcoin in a legal and guaranteed way, without venturing into the squalid and risky world of the dark web? Today there are online platforms for investments such as Plus500 that allow you to operate on bitcoin and other cryptocurrencies in a simple and safe way. We have already talked about another platform, even more interesting, to earn with crypto currencies: Stable Coin Tether (USDT). Meanwhile, this is not the first time that the cryptocurrency industry has introduced credit and debit card concepts, and Coin Base has released similar cards. BTC to USDT has released the world’s first USDT-based cryptocurrency debit card. With (USDT) it is possible to operate on Bitcoin or Ehereum in a simple and very intuitive way. The peculiarity of (USDT) is that it is possible to make social trading that is to copy, in a completely automatic way, what the best traders do. What does this mean? It means that you can make money right away with cryptocurrencies , even if you have absolutely no financial trading experience. Not only that, just observing the behavior of good traders you can quickly learn to operate as professionals. Precisely for these reasons, Stable Coin Tether (USDT) is the preferred platform for many of those who start trading with crypto currencies for the first time.

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About the Author: Kashif Raza

Kashif Raza is a graduate of New Jersey, where he played volleyball and annoyed a lot of professors. Now as Zubuz’s health, entertainment and Lifestyle Editor, he enjoys writing about delicious BBQ, outrageous style trends and all things Buzz worthy.