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Cryptocurrency Terminologies for Beginners
The rise of cryptocurrency is making a huge influence towards different businesses, companies or even simple individuals that supports the use of it in exchange of service, products, investments, etc. Number of users increases seemingly. However, beginners often get confused with the jargons, known only in the said network. In this article, I will be sharing basic terms that exists in cryptocurrency world: Cryptocurrency - is an internet-based, digital/virtual form of currency that is secured by cryptography (which makes it almost impossible to counterfeit) and operates independently from central bank. These include Bitcoin, Bitcoin Cash, Etherium, Ripple, Litecoin, etc. Cryptography - process of securing communication and data in various electronic transactions (such as account name, account number, amount, digital signature, etc.) by converting plain texts to unintelligible texts and vice versa. It is also be utilized for user authentication. Blockchain - refers to a growing list of record or the digital information (blocks) stored in public database (chain). Wallet - or software wallet, is where you “store” your cryptocurrency. It is basically a digital program/system/site/app that store public and/or private keys used to track ownership and transactions of your cryptocurrency. Example: Coinbase, Trust Wallet, Exodus Crypto Wallet, Coins.ph, Binance Wallet, etc. Wallet Address - is a destination associated with the software wallet where a user sends and receives cryptocurrency. Usually include a long series of letters and numbers. Example: qz8wlltmrj83mj2waw6rgaw9wtzqywuc5s3xqm67g7 Fiat Money - a currency that has actual value maintained; established as money; and backed up by the government. Example: US Dollar, British Pound, Philippine Peso, Japanese Yen, Euro, etc. Altcoin - or "alts"; refers to any cryptocurrency other than Bitcoin. ATH (All-time High) - it's when a cryptocurrency breaks its previous record price. FOMO (Fear of Missing Out) - refers to the strong urge or need to purchase a cryptocurrency when the price starts increasing rapidly. Mining - process of validation of transactions such as computers trying to solve blocks in a blockchain. Thus rewarding new cryptocurrency to successful user (miner). However, mining scams are rampant nowadays. Miners are always reminded not to provide private keys, deposits, etc to avoid these frauds. FUD (Fear, Uncertainty and Doubt) - this is the greatest risk for investors; A state of mind that often influence when and how crypto-enthusiasts make trades, purchase or hold onto their coins thus affects greatly in the actual prices/convertion rate of cryptocurrency. DeFi - short term for "decentralized finance" which includes digital assets, protocols, smart contracts, and dApps; is a financial software built on the blockchain that can be pieced together like Money Legos. Etherium is the primary choice for DeFi Application. Stablecoin - refers to a class of cryptocurrency that attempts to stabilize coin prices, backed by reserve assets. Reserve Assets - financial assets denominated in foreign currencies, held by central banks; must be readily available for monetization and/or must be an external physical asset. Example: US Dollars, Gold. That's all for now, I hope this information might help especially beginners who still lack knowledge regarding these terms. Continue supporting #Cryptocurrency
Hong Kong has been in a state of civil unrest since an extradition bill was proposed in February, and protests have intensified in recent weeks. Essentially, if the extradition bi This makes it easy to set up daily, weekly or yearly purchases in manageable denominations and is a painless way to grow your bitcoin holdings. These exchanges, however, are vulnerable to hacks and other security issues. Any bitcoin you leave on the platform is technically not yours, until you withdraw it to a wallet you control. If the exchange get hacked, they’ve potentially lost your ... Banknotes are available in denominations of 5, 10, 20, 50 and 100 pula. There are coins in the value of 1 and 2 Pula as well as 1, 5, 10, 25 and 50 Thebe. Besides the Pula, cash in US dollars is also a recognized means of payment in Botswana. In addition, to be a millionaire in cryptocurrency like Bitcoin then you should consider acquiring or owning above 100 digital coins. By having above 100 Bitcoins, you'll boast yourself to be a millionaire in any traditional cash denominations such as Dollars, Euros, Swiss Francs and Great British Pounds. Unsurprisingly, Bittrex’s most popular trading pairs are BTC and ETH. It must be noted that the exchange currently does not offer any kind of fiat-to-crypto pairs, e.g. with U.S. dollars, euros, or British pounds). One thing investors can do is buy USDT (Tether tokens) via wired bank transfers in order to use USDT for crypto-to-crypto exchanges. Mauritius was placed under British rule after the British conquered the island in December 3rd, 1810 and officially became a British colony after the signing of the Treaty of Paris in 1814, the island being known as the Crown Colony of Mauritius. The Mauritian dollar was introduced to the island in 1820 by the imperial government in London as a replacement for the French colonial Livre. The ... CoinMetro, one of Great Britain and the EU’s most user-friendly cryptocurrency exchange platforms, is pleased to announce that they will now support deposits, withdrawals and trading with the British pound sterling (GBP). The second fiat currency added by CoinMetro (after the EUR), users of the exchange can now easily buy or sell Bitcoin (BTC) with …
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🔴BINANCE LIVE: Interview with Binance CEO C. Zhao. Announce BTC Giveaway🔴 Binance 2,883 watching Live now Beyond Price: Bitcoin's Impact on the Future - Duration: 25:48. Purchase Bitcoin using you credit or debit card, using visa master card and much more. Guide on how to register, buy, sell or transfer Bitcoin and other Cryptocurrencies with you bank account ... Binance Adds Fiat: Binance has set up shop on the island of Jersey with a new company allowing the purchase of Bitcoin and Ethereum with fiat – namely GBP (british pounds) and EUR (euros). 🔴 BINANCE LIVE BITCOIN GIVEAWAY 🔴 CZ Announce BTC GiveAway! 🔴 Binance 5,010 watching Live now EUR/USD Technical Analysis for January 09, 2020 by FXEmpire ... In addition, Binance plans to move to Jersey to expand its European influence, having achieved a exchange license there, and plans to add fiat pairs including the Euro and the British pound to its ... Binance o soo wada British Pound stable coin Ripple malawareegtay xawalada Money Gram warar ... How to buy and sell Cryptocurrencys on Binance. BitCoin and Ripple - Duration: 8:06. Jermaine Ellis ... One of the biggest cryptocurrency exchanges, Binance, has expanded into the European markets by launching a new trading platform, called Binance Jersey, designed strictly for fiat-to-crypto trading.