Have you been searching for Cryptocurrency for newbies, you can trade as a starter? Here is the perfect destination to know all it entails.
The rise of cryptocurrency may have taken a lot of people and nations unaware and caught some off guard, and some may deliberately have refused to key into it or accept it, but just as with the rise of technology in general, cryptocurrency has and is becoming a mainstay. Just as is normal to learn a new thing when it comes up, so it is for crypto newbies to understand what cryptocurrency is, the types, and how it is mined or acquired, the pros and cons concerning the holding and trading of cryptocurrency.
What then is cryptocurrency?
It is a form of payment or transaction that is circulated without the need, help, or use of a central authority, which is usually the bank or the government. It can well be said to be digital, virtual, or electronic money secured by cryptography. And cryptography is the securing of connections in the presence of a third party.
A brief history of cryptocurrency
Cryptocurrencies came about in the 1980s and were then referred to as cyber currencies. However, it did not gain popularity until the year 2008, with the introduction of Bitcoin created by an anonymous group of programmers named Satoshi Nakamoto.
This Bitcoin was launched in 2009 and has gone in to hit all-time high figures in the crypto market. The first of its transactions are recorded to have taken place on the 12th of January, 2010 between Nakamoto and Hal Finney.
In early 2010, Bitcoin was about the only cryptocurrency in the market.
Types of cryptocurrency
There are over 6000 cryptocurrencies in circulation, a few of which include:
Cryptocurrency for newbies terms you should know
Just as different disciplines have their terms, crypto has its terms as well, and knowing them will be a plus for any beginner. Some of the terms OF Cryptocurrency for newbies include:
- Mining: this is a process whereby blockchain is recorded and verified.
- Wallet: just as your normal wallet functions, a crypto wallet is a place where crypto coins are kept/stored.
- Whale: a crypto term referring to an individual with large crypto holdings, large enough to probably influence the price. Elon Musk is an example of a crypto whale.
- Address: when we talk about address in cryptocurrency, we refer to a combination that can be termed unique, through which a count is identified on a blockchain. This unique combination consists of numbers and letters.
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Crypto mining apps
- Hashing24: Allows for mining without the initial purchase of equipment
- Better hash: has the ability to create wallets for all coins you are trading.
- Cudo Miner: Provides an auto coin switch.
- IQ mining: Uses smart contracts to distribute funds automatically. It also provides various payment methods from which to choose.
- Nice Hash: Enables users to check mining status easily, and also provides deposit and withdrawal options.
- Hashiny: enables miners to find profitable mines with ease, and backs up data automatically. It is well accessible from IOS and Android.
- Shamining: a cloud mining platform that helps you calculate your income and mine without any hardware skills.
- Awesome miner
a user-friendly app that enables you to monitor crypto trading.
a user-friendly interface that allows you to mine and trade various coins including bitcoin gold, litecoin, Ethereum, and cash.
Bitcoin cloud mining uses a special algorithm to shift power to the most profitable virtual currency, all in real-time, automatically.
Best Platform To Trade Your Cryptocurrency.
Now that you know the best cryptocurrency to trade, here comes the question, what is the best platform you can trade your cryptocurrency?
The best platform that has proven to be fast and efficient when it comes to cryptocurrency trading is snappyexchange.
You enjoy instant transactions, and as well stand to enjoy other benefits such as.
- Surprise monthly box package.
- Snappy tokens which can be converted to cash or used to trade on the platforms, and many more amazing benefits
You can as well make use of the platform mobile app to perform your transactions.
Finally, knowing what Cryptocurrency for newbies are, the types, types, terms, and mining applications is the best thing that can happen to anyone who wants to try crypto trading or holding. Careful reading and assimilation if this piece is the beginning of a successful journey into the world of cryptocurrency.
Also, do not forget that snappyexchange is the best platform where you can trade all your digital currencies. Start trading on the platform now.