Thousands of cryptocurrencies are available and are increasingly used for transactions via the Internet, or everyday purchases. Bitcoin, ethereum, ripple, litecoin or monero, to name only the most famous, are cryptocurrencies that are exchanged through blockchain technology and using cryptographic algorithms. Technical terms or new words associated with the proliferation of virtual currencies require training to understand this jargon and to better understand the complexity of cryptocurrency operation and technology.
A cryptocurrency is a decentralized virtual or electronic currency. It is also called digital currency. It is a currency that exists only on online networks and operates independently of a government system, a conventional monetary authority or a bank. There is no intermediary like a bank when transferring between two entities. On the other hand, a cryptocurrency is a digital currency and a payment system whose value is not indexed to a legal currency or a commodity.
Also, it is not legal tender in a region or in a continent and does not have tangible supports as is the case with currencies such as the dollar or the euro using banknotes and coins.
Based on a computer protocol of encrypted and decentralized transactions, cryptocurrencies work thanks to blockchain technology. This allows you to create cryptocurrencies and secure them. Meaning chain of blocks or ledger in French, blockchain technology is a decentralized computer system or complex computer protocol with source code based on the principles of cryptography. It is a kind of digital ledger or ledger that allows transactions between entities to be created and recorded. This ledger and transaction data is encrypted using cryptography, hence the term cryptocurrency.
A cryptocurrency makes it possible to buy classic consumer goods and services, in particular, on merchant sites offering cryptocurrency as a method of payment. It allows you to carry out transactions without having to resort to legal tender, to buy computer equipment or everyday consumer products. It is even possible to make a purchase in cryptocurrency with your traditional bank card. Also, cryptocurrency can be traded or exchanged for another dematerialized currency. It is also possible to trade cryptocurrencies on specialized platforms or to invest in cryptocurrency.
To understand cryptocurrency in all its complexity, in particular, with regard to its mode of operation and that of blockchain technology, the dedicated vocabulary, the transactions, the investment strategies, it is important to follow a training.
For my part, I was able to discover, understand and master cryptocurrency, the operating principle of blockchain technology, by following an online training course.
To easily find online training suitable for beginners and experienced in the field of cryptocurrency, the Faction Formation site was very useful to me. This reference article reveals the best courses that make it easier to learn cryptocurrency and invest in it.
Through this site, I was able to easily orient myself towards online training which allowed me to test cryptocurrency, to understand and easily master the entire cryptocurrency ecosystem, the different terms and concepts linked to this virtual currency. This training provided me with the means and methodology to understand and familiarize myself with the cryptocurrency economy. It also allowed me to better master the strategies that allow to trade, sell and secure crypto-assets.
The cryptocurrency market is decentralized with currencies transiting through a network of computers. These digital currencies can be bought and sold through exchanges or held on cryptocurrency wallets. These wallets or wallets (virtual currency storage solution) allow you to send, receive, control, and secure your cryptoassets. Each user has a wallet and account balances are stored in a ledger (blockchain).
To sell cryptocurrency units to another user, they must be sent to the virtual wallet of the latter. After the transaction is verified and added to the blockchain through a mining process, it is then considered complete. Mining is an operation that consists of validating a transaction carried out in digital currency by encrypting the data as well as recording it in the blockchain.