What Is a Cryptocurrency?
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.ˇ
Types of Cryptocurrency
The first blockchain-based cryptocurrency was Bitcoin, which still remains the most popular and most valuable. Today, there are thousands of alternate cryptocurrencies with various functions and specifications. Some of these are clones or forks of Bitcoin, while others are new currencies that were built from scratch.
Bitcoin was launched in 2009 by an individual or group known by the pseudonym “Satoshi Nakamoto”.
What are altcoins?
Tokens, cryptocurrencies, and other types of digital assets that are not bitcoin are collectively known as alternative cryptocurrencies shortly called altscoins.
Altcoins often have underlying differences with bitcoin. For example, Litecoin aims to process a block every 2.5 minutes, rather than bitcoin’s 10 minutes which allows Litecoin to confirm transactions faster than bitcoin. Another example is Ethereum, which has smart contract functionality that allows decentralized applications to be run on its blockchain. Ethereum is the most-actively used blockchain in the world according to Bloomberg News and has the largest “following” of any altcoins according to the New York Times.
Airdrops and forks are the crypto equivalent of being in the right place at the right time. Airdrops are free tokens, usually distributed by an exchange to generate awareness and create a large user base for a project. Forks are essentially changes or upgrades in a protocol that create new coins. When a blockchain forks, holders of the coins on the original chain typically get free tokens on the new network.
Earn crypto while learning about crypto
How much I can Earn trading crypto?
Crypto market is called future money. Because of big volatility it moves from lows of 10% to more then 100% so traders can make a big return of their investment in short of time if you know what to expect.
When looking for the best ways to earn money online, cryptocurrency probably doesn’t even hit your mind. But, it should. Cryptocurrency is one of the fastest-growing digital assets. Backed by the blockchain and enabled for trading, it effectively offers multiple means for anyone looking to make a good income online. There are multiple ways in which you can make money with cryptocurrencies, some of which don’t even need you to invest anything but your time and efforts.
How to make money with cryptocurrency
- Trading crypto for profit
- Trade BTC vs USD
- Stalking and leading
- Trading alt coins (airdrops or forks)