What is cryptocurrency
Cryptocurrency is a type of digital
or virtual asset that operates on a decentralized ledger called a
blockchain, which records all transactions in a secure and immutable way –
Wikipedia
Unlike traditional currencies,
cryptocurrencies are not issued or controlled by a central bank, and ownership
is verified through cryptographic keys stored in digital wallets - Cloudwards
What is Bitcoin
Bitcoin is a decentralized
digital currency that allows people to send, receive, and store value without
relying on a bank or central authority – Investopedia
Often times you see people text
you or call and will be like – “Charlie I want to start this bitcoin business
some so I can be making some cool money you know”. I would usually laugh and be
like ‘baba eno dey work like that’. Many will understand when I explain and
many too will see me to not wanting them to join the business. I often get this
on a normal basis. This category is those that think of cryptocurrency or
bitcoin as ‘a get rich’ scheme but hey buddy, let me disappoint you small hahahaa.
Some will be like “my guy this bitcoin thing, how much do I need with me to
start the business?”. On this post, we shall find a lasting solution to this perception
by God’s Grace. The key to everything successful is “knowledge and the right information
at the right time”. So AymaTech tells you today that you need to learn first
before starting anything cryptocurrency or “bitcoin business” as many often
call it. But this is not even the big deal, the problem is what do I learn and
how do I go by it? Question to the gods huh? Oh naa, @ AymaTech, we shall simplify
it here for you
After learning what Bitcoin or Cryptocurrency
is by definition, learn the following accordingly;
·
Why bitcoin’s whitepaper was published in
2008/2009 and the programmer in question by a pseudonymous name Satoshi
Nakamoto decided to make himself or themselves anonymous. This is not for
the curiosity that kills the cat but something that would help you decode the
brain behind that cryptographic technology, how secured it is, how decentralized
it is, why its termed the next generation of money and just to mention but a
few
·
Who controls it
·
How does it work
·
Where and how do I get bitcoin and other
cryptocurrencies - AymaTech
·
What is a cryptocurrency exchange
·
How does it work
·
What is a crypto wallet
·
How to use it to send and receive crypto
·
What is a crypto wallet’s address
·
What are crypto networks or ecosystem in sending
and receiving crypto, their transfer fees related, where and when to use which
This is a
beginner’s guide. Check back soon for further guidance…
