What is electronic money? Cryptocurrency is a type of digital currency, designed with the purpose of being an alternative to fiat money. Cryptocurrencies use algorithms to secure and confirm transactions as well as control the creation of new units in a given cryptocurrency network. Basically, electronic money is a form of limited input database, no one can change it without meeting certain predefined conditions.

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Bitcoin – World’s First Cryptocurrency Most other cryptocurrencies, Ripple does not use Blockchain to reach consensus in transactions. Instead, the network uses an iterative consensus process, which is faster than the Bitcoin network but also more vulnerable to attacks.Bitcoin Cash – A fork version of Bitcoin used by BTC mining and chip manufacturing companies. Bitcoin ASICs backed mining. This coin has risen to the top 5 cryptocurrencies with the largest capitalization just a few months after its formation. NEM – Not using the Proof of Work (PoW) algorithm, this coin uses the Proof of Importance algorithm ( PoI). This algorithm requires users to own a certain amount of coins to be able to buy new coins. This encourages users to use funds and monitor transactions closely, to understand the importance of being a member of the NEM.Litecoin network – A cryptocurrency created with the goal of becoming “technical silver.” digital” in relation to Bitcoin, “digital gold”. This is also a fork from Bitcoin, but unlike BCH, this coin generates blocks 4 times faster and has a maximum amount of coins 4 times: 84 million in circulation. IOTA – breakthrough ledger technology of This cryptocurrency is called “Tangle” and requires the sender of a transaction to perform Proof of Work to prove two transactions. So, IOTA has excluded miners from the process.NEO – this is a smart contract network that underpins all types of financial contracts and decentralized applications. NEO has many of the same goals as Ethereum and is currently developed in China.Dash – An open source cryptocurrency, is a form of autonomous decentralized organization (DAO) run by a collection of users, called the “masternode” operates. This is an altcoin fork from the Bitcoin protocol. This cryptocurrency allows for faster dash purchases and no trace of transactions. Monero (XMR) is a secure, private and untraceable currency system. XMR uses a special crypto algorithm that makes XMR transactions 100% unlinkable and untraceable.Ethereum Classic (ETC) is a cryptocurrency developed and created from Blockchain technology. of Ethereum. Initially, these two blockchains were similar in every way, but until the second hard fork at block 1,920,000 of Ethereum proceeded to return the entire amount of stolen investors’ DAO funds. .

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How to store cryptocurrency

Unlike most traditional currencies, cryptocurrencies are completely digital, which means you have to take a completely different approach than paper money, especially in terms of how to store it. Technically, you don’t store the currency; what you actually keep is a private key used to make transactions.

Currently, there are many different types of cryptocurrency wallets for many different uses. If your first priority is privacy, you can simply use a paper or a hardware wallet. This is the safest way to store crypto funds. In addition, there are also “cold” (offline) wallets on the market that are stored on hard disks or online wallets, linked to exchanges or independent platforms.

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How to buy cryptocurrency

There are many opinions surrounding buying Bitcoin. For example, there are currently nearly 4,415 Cryptocurrency ATMs in 58 countries worldwide. Alternatively, you can also buy BTC through cryptocurrency exchanges, investment trusts or even an OTC market for BTC.

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For other cryptocurrencies, buying options are not as diverse as BTC. However, there are still quite a few exchanges where you can convert crypto to fiat or Bitcoin. Direct trading is also popular.