DIGITAL CURRENCY TRADING FOR BEGINNERS: THE ULTIMATE GUIDE

DIGITAL CURRENCY TRADING FOR BEGINNERS: THE ULTIMATE GUIDE

Basic information about 
Cryptocurrencies

What are Cryptocurrencies
Cryptocurrency is a virtual currency that uses blockchain technology and has been designed 
as a medium of payment and was first introduced in 2009 by a pseudonym called Satoshi 
Nakamoto. The general idea is that Cryptocurrency is a decentralized way of making 
payments and is independent from governments, central authorities or any other control 
bodies. On the other hand, transactions involve only very low fees if even and there won’t 
be any international charges in transferring money. In general, you also have access to 
your money 24/7. That said, no additional paperwork is needed to make any transaction 
and you would only need to create an account or a digital wallet to be ready. With the use 
of an internet connection anyone can trade, spend or borrow money around the world. 
Transactions are done peer to peer, which means no intermediate person like a bank, broker 
or government is involved in a transaction using Blockchain technology.

What is the Blockchain

The Blockchain can be explained as a network where all transactions are stored and 
distributed in the form of a public digital ledger. The information is saved and distributed 
across the entire network in a chronological order and at the same time also replicated 
to prevent hacking. So, each node on the network contains the same information to make 
the system abundant and safe. Transactions from the past can’t be adjusted or deleted. 
All information is being saved in an encrypted way, which is why the currency is called 
Cryptocurrency. The transaction details are stored in containers on the network which are 
called blocks.

Market awareness

After big corporations have been made aware of the buzz around Cryptocurrencies 
now also payment solutions companies like PayPal have stepped forward to invest into 
Cryptocurrency and to take part of the growing market. Famous individuals also among 
investors supporting the technology as they see the advantage and security compared to 
traditional money.

DIGITAL CURRENCY TRADING FOR BEGINNERS: THE ULTIMATE GUIDE