What is Cryptocurrency?

Cryptocurrency is a digital currency secured by cryptography, making it difficult to copy or counterfeit. Most cryptos work on decentralized networks that use “blockchain” technology. Blockchain is a decentralized ledger computing network that confirms transactions across the platform. Cryptocurrencies are usually decentralized which protects them against outside interference from outside parties such as governments, hackers and institutions. Cryptocurrencies like Bitcoin and Etherium can now be used every day to purchase goods and services just the same as if you were to pay with cash, credit cards and bank wires.

What is Blockchain Technology?

A Blockchain is a decentralized database shared among many computers on a network. Blockchains keep digital data secure and transparent for their uses. Blockchain is the essential technology behind cryptocurrencies like Bitcoin, Etherium and others, where secure decentralized records of transactions are monitored and kept. So for example, unlike slow centralized ledger systems used by banks, blockchains are able to guarantee accurate and immediate records of data without 3rd party verification. The main difference between a normal database and blockchain is the data structure. Blockchain is a continuous verified peer-to-peer system of verifying transactions which are all linked together based on previous transactions.

What is Bitcoin?

Bitcoin and its underlying technology, Blockchain, offer a secure and reliable way to store and transfer money and information online. Bitcoin is not bound by borders and is available to everyone. Quick and transparent : It is fast and easy to pay and to receive money with Bitcoin. Easy to use : Bitcoin is simple to use and easy to understand. A decentralized digital currency that makes it possible to transfer value anywhere in the world instantly. The internet of money that works without a central repository or single administrator. The process of mining Bitcoins is handled by the network of users. A public ledger called blockchain records all transactions in a chronological order. A secure, private and untraceable currency. No government or bank controls your money. Fast and easy to send money anywhere in the world. With Bitcoin, there are no credit card numbers that can be stolen. Bitcoin transactions are practically free to make, compared to the high fees charged by banks. Bitcoin is an open-source project. Most popular and fastest growing Cryptocurrency in the world. A decentralized form of digital currency that is available from anywhere in the world. It can be used to purchase goods and services from anywhere in the world that accepts it. You can use it for something as simple as a cup of coffee or even a house. Fast and secure transaction options. No personal information is required to use it. Can be used to purchase items online anonymously. A currency with limited supply that can be used online for transacting securely. The currency is decentralized and not controlled by any government. A mode of digital currency that has many benefits over traditional currency. It is mined by users who use their computing power to solve complex mathematical puzzles. Bitcoin is the first and most popular form of Cryptocurrency today. Bitcoin has a current market cap over 1 Trillion USD and is growing at a rapid pace. Bitcoin’s market cap is bigger than Paypal, Twitter and Tesla combined. Bitcoin’s value is predicted to rise to $1 Million USD in the coming years. The Bitcoin system is decentralized and its safety is not controlled by any central authority.

What are the best cryptocurrency exchanges for USA Citizens?

That’s a good question. When it comes to the best crypto trading platform for United States citizens, things have really changed a lot in the past few years. Not so long ago USA citizens were welcome to trade on the largest crypto trading platforms in the world, including Binance.com and others. However, due to political corruption backed by the big banking industry, almost all options for trading Crypto on global platforms have now been made off limits for USA citizens. You can thank the terrorist attacks on 09/11/01 and the ensuing federal “Patriot” Act for this and hence the continual loss of American’s liberties slowly one by one. So now, USA citizens can no longer trade on Binance.com, Kucoin, Huobi Global, Bitfinex, BitThumb, and more crypto trading markets that were created and intended to be open for trading to all people around the world. Ironically the “free” USA is on a pretty short list of other countries in the world that are unable to use overseas global crypto trading platforms!
The GOOD NEWS is that United States citizens can use the Gate.io crypto trading platform for full access to trading 1000’s of cryptos including Bitcoin, Etherium, Ripple, Stellar, Dogecoin, Shiba Inu and many more. Gate.io is a powerful crypto trading market giving you access to trading a HUGE variety of cryptocurrencies, NFT’s, etc. The easiest way to fund a Gate.io trading account is to use a Coinbase account to buy Bitcoin and transfer BTC from your Coinbase BTC wallet to Gate.io BTC wallet.

What are the best sites to research cryptocurrency market prices?

CoinmarketMojo.com is one of the best sites to quickly compare cryptocurrency prices, trends and cryptocurrency markets. Also coinmarketcap.com is a very good site which was bought from the original developer for a massive sum of money by Coinbase. In November 2021 Coinmarket Cap was actually in the 100 ranked websites in the entire world. Average user spends about 7 minutes on the site. You can only imagine the amount of money Coinbase is generating from Coinmarket Cap!