Why do we need cryptocurrency?
Cryptocurrencies provide a way for people to exchange value without using banks or government-issued currency. Banks charge fees for each transaction they process, while governments often print more money than what’s actually circulating in their economy. In addition, cryptocurrencies are not controlled by any central authority, making them decentralized.
How does blockchain work?
Blockchain technology is the backbone of cryptocurrencies. A distributed ledger called a blockchain keeps track of all transactions occurring in a given cryptocurrency. When someone sends bitcoins to another person, the sender digitally signs the transaction using cryptography. Anyone who receives a bitcoin can verify the signature and ensure that the sender owns the private keys necessary to spend those bitcoins. Once verified, the transaction is added to the blockchain, where it becomes public. This means that everyone can view it online, and no single entity controls the network.
Is crypto legal?
Governments have been trying to regulate cryptocurrencies since their inception, but thus far, none of these regulations have stuck. Many countries around the world have tried to ban cryptocurrencies, but regulators don’t understand how they work and fear that banning them will only push criminals to use them. However, young people have adopted crypto because it provides them autonomy and the market is decentralized.
Where can I buy/sell/trade crypto?
You can trade cryptocurrencies on many exchanges, including Bitpapa. You can fund your account using a credit card, bank transfer, debit card, or even PayPal. The majority of major exchanges offer trading pairs between US dollars and over 100 different cryptocurrencies.
What if anything should I invest in?
Investing in cryptocurrencies isn’t risky, but there are some things you’ll want to avoid. Don’t invest more than you’re willing to lose, and make sure to factor in regulatory risk when choosing which coins to invest in.
Should I learn about crypto?
Absolutely! Crypto is a young industry with explosive potential for innovation. There are new projects emerging every day. By learning about crypto, you’ll gain insight into how it works and you’ll have the opportunity to join the exciting community of early adopters.
