It cannot be denied that cryptocurrencies are a major subject of the moment.Whether in the news or in conversations between friends, virtual currencies get a lot of attention.This happens to be largely because of the opportunity of high return on investment, which is always an expectation among those who choose to bet on them.
And when it comes to cryptocurrencies, one soon comes to mind bitcoin, the pioneer and also the most famous.The unit value of bitcoin is thousands of reais, and this incredible quote helps explain virtual mining in search of its fragments.But if you don’t understand how to buy or get this kind of currency, be sure to read this article all the way.
What are cryptocurrencies?
Cryptocurrency is a virtual currency. It is represented by hard-to-change code that uses encryption and blockchain technology to ensure decentralized trading of the internet.In addition, a cryptocurrency can be converted into real values and traded via the web, without intermediaries and without bureaucracy.
It is, in fact, a very particular instrument.Its main feature is the absence of a regulated monetary system, which makes it circulate without submission to a financial authority.
Precisely because they are decentralized, cryptocurrencies can be transferred from one person to another without having the resource go through a bank, as in the traditional system.This is a movement called point system to the point (of the English peer to peer).
How do cryptocurrencies work?
As something “digital”, cryptocurrencies do not physically exist.
They are stored in a virtual wallet and can be administered through a mobile device or personal computer.Thus, quotation, buying and selling occur anonymously, always over the internet.
But to better understand how they work, you need to put another actor in this analysis.
We’re talking about the blockchain, also known as the trusted protocol, which is the technological innovation behind cryptocurrency.It consists of shared databases and records whose main security measure is decentralization.The blockchain creates a kind of global index for all transactions within the same market. Aforementioned statement can be done as per the protocol by the assistance of Duxa Capital and their team in a proper way.