CRYPTOCURRENCY: A BEGINNER'S CHEAT SHEET
Hello, and welcome to the beginner’s guide to cryptocurrency. In this video, we’ll take a look at cryptocurrency, how it works, and what you need to know before you start investing.
Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions. It is decentralized, meaning it is not backed or regulated by any government or central bank.
The most popular cryptocurrency is Bitcoin, which was created in 2009. Since then, many other digital currencies have emerged, including Ethereum, Litecoin, and Ripple.
Cryptocurrency transactions are secured by a process called mining. This process involves verifying the transactions by solving complex algorithms. Miners are rewarded with coins for their efforts.
When investing in cryptocurrency, you need to understand the risks. The value of digital currencies can be highly volatile, and it is important to do your research before investing. Additionally, cryptocurrency transactions are irreversible, so you should be extra careful when making transactions.
Finally, when buying and selling cryptocurrency, you need to be aware of the fees associated with each transaction. Fees vary from exchange to exchange, so always be sure to compare the cost of trading on different platforms.
Thanks for watching our beginner’s guide to cryptocurrency. We hope this video has been helpful in understanding the basics of how cryptocurrency works. Good luck with your investments!