Crypto Currency in A Nutshell

 I know I can’t be the only one out there who keep hearing about all these different kinds of crypto currencies. And hear about everybody making money getting rich with like 3 dollars if you invest now. I was joking about the 3 dollars but that’s how some people make it seems. There always a new one popping up overnight that’s supposed to be the next bitcoin. It’s a little irritating because why everyone is telling us to buy no one is telling us exactly what it is and how it works. So, I’m here to give my friends the basic breakdown of the mind-blowing new thing that has so much value without actually being anything.

What Is Crypto Currency

What is crypto currency? Crypto currencies is a virtual currency that works off of something called blockchain technology. It was developed so people can make purchases online and make payments. It was started in 2013. I know this sounds like some companies you may have heard of like PayPal, cash app, or your credit cards. So, what makes crypto currencies different? Is it’s free from any 3rd party interference. So, it’s not controlled buy any government like other currencies around. That’s why a crypto purchase will never fail you. There are no transfer limits, there’s no getting your account hacked, or no issues with the bank.

Pro

  A pro for crypto currencies they have little to no transaction fees, there’s no limit to how many transactions you can make, and you also have 24-hour access to your money. I can keep going with the pros like, there’s no delay or extra charge when making international transportation and the best part is there no paper trails. Just make a digital wallet with and account and there you have it everything that make it different from other currencies and other online payments options.

Control

  Now you may be asking yourself how is this possible with no control of an external authority? This is when the block chain technology goes into play. Blockchain works like footprints of transportation to whom. Making it hack proof.

Summary

  There you have it my friends’ crypto currencies in a nutshell. It’s a way to buy things with no interference at all. It’s like the digital hand to hand if you will. Some people feel this will change the world for the better and others feel it will change it for the worst. I guess it’s just how you look at it. Some people may make some money selling crypto currencies and others will lose money. I wouldn’t invest everything I have in it, but I might do a little something with it. As always do your research my friends before you do anything.