Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Mycrypto122 on December 11, 2018, 02:04:56 PM
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What Is Cryptocurrency?
Cryptocurrencies use cryptographic protocols, or extremely complex code systems that encrypt sensitive data transfers, to secure their units of exchange. Cryptocurrency developers build these protocols on advanced mathematics and computer engineering principles that render them virtually impossible to break, and thus to duplicate or counterfeit the protected currencies. These protocols also mask the identities of cryptocurrency users, making transactions and fund flows difficult to attribute to specific individuals or groups.
How to start with cryptocurrencies? (https://blockchainmuffin.com/how-to-start-buying-cryptocurrencies)
You need a wallet
Before you can buy into an initial coin offering (ICO), purchase cryptocurrency, or execute smart-contracts you’ll need a wallet. There are hardware wallets and software wallets; for now we’re only going to worry about software wallets.
Buy an established coin
You don’t have to start off trying to predict which ICO is the best investment. There are numerous ways to aquire cryptocurrency from an established coin.
It’s time to hit the exchange
Depending on which coin you’re investing in you’ll either visit an exchange, or use whatever method of purchase or trade the offering requires. You may be able to set up an online store that accepts Bitcoin or ETH, for example. Or perhaps you know someone who will sell you some. One of the most common ways to get cryptocurrency is to visit an exchange.