Cryptocurrency News Bytes & Education

Important Bitcoin Facts

Important Bitcoin Facts

If you haven’t heard by now, Bitcoin is here to stay and the faster you learn about it, the better you prepare yourself for what is likely to be a…

Play Royal Online Casino Games DAPP Review / Overview [Passive Crypto Income]

Play Royal Online Casino Games DAPP Review / Overview [Passive Crypto Income]

Do you like to play online casino games?  Do you like gambling?  Do you like the sound of completely PASSIVE crypto income?  If you answered YES to any of these,…

Hotbit Exchange Review / Cryptocurrency Exchange Overview

Hotbit Exchange Review / Cryptocurrency Exchange Overview

Do you come from a part of the world that lacks access to quality / liquid cryptocurrency exchanges?  [which happens to include the U.S. States like New York, Vermont &…

CoinSwitch DEX / Decentralized Cryptocurrency Exchange [HOW TO USE GUIDE]

CoinSwitch DEX / Decentralized Cryptocurrency Exchange [HOW TO USE GUIDE]

In today’s post, Caleb Wright from Bitcoin Lifestyles Club is going to teach you how to use the CoinSwitch DEX / Decentralized Exchange to trade your favorite cryptocurrencies; from anywhere…

How To Mine Pi Cryptocurrency With Your Mobile Phone

How To Mine Pi Cryptocurrency With Your Mobile Phone

In today’s FREE Crypto Training, Caleb Wright is going to teach you How To Mine Pi cryptocurrency completely passively with your mobile phone!  This Stanford sponsored cryptocurrency project has already…

Friendster.io: The Future Of Social Media [Platform Overview by Caleb Wright]

Friendster.io: The Future Of Social Media [Platform Overview by Caleb Wright]

In today’s post I’m going introduce you to the future of social media, with my latest video overview of the new and fast growing Friendster.io Social Media Platform! Get ready…

10th Crypto Trading Commandment: Thou Shalt Not Lose Money To Crypto Scams

10th Crypto Trading Commandment: Thou Shalt Not Lose Money To Crypto Scams

Welcome to the 10th and final video of my latest free crypto training series, “The 10 Commandments of Crypto Trading”. Today you are going to learn how to identify and…

9th Crypto Trading Commandment: Thou Shalt Exercise Proper Risk Management

9th Crypto Trading Commandment: Thou Shalt Exercise Proper Risk Management

Welcome to the 9th video of Caleb Wright’s new training series, “The 10 Commandments of Crypto Trading”. Today you are going to learn how to survive the crypto market for…

8th Crypto Trading Commandment: Thou Shalt Learn Crypto Market Analysis

8th Crypto Trading Commandment: Thou Shalt Learn Crypto Market Analysis

Welcome to the 8th video in Caleb Wright’s new training series, “The 10 Commandments of Crypto Trading”, where you are going to learn about one of the essential skills that…

7th Crypto Trading Commandment: Thou Shalt Have & Abide By A Gameplan

7th Crypto Trading Commandment: Thou Shalt Have & Abide By A Gameplan

Welcome to the 7th video in my Caleb Wright’s new series, “The 10 Commandments of Crypto Trading”. Today he is going to reveal the systematic approach that all WINNING traders…

6th Crypto Trading Commandment: Thou Shalt Immerse Yourself In The Crypto Market

6th Crypto Trading Commandment: Thou Shalt Immerse Yourself In The Crypto Market

Welcome to the 6th video in Caleb Wright’s new training series, “The 10 Commandments of Crypto Trading”, where he is going to reveal the one thing that every ‘high level’…

5th Crypto Trading Commandment: Thou Shalt Do Your Own Research

5th Crypto Trading Commandment: Thou Shalt Do Your Own Research

Welcome to the 5th video in Caleb Wright’s new training series, “The 10 Commandments of Crypto Trading”. Today he is going to reveal the strategy that the most successful traders…

What Is A Cryptocurrency? The Internet Of Money & Value!

what-is-a-cryptocurrency

What is a cryptocurrency?  Cryptocurrency is a ‘digital currency’ that uses advanced encryption technology to facilitate free & secure peer to peer transactions.

Most cryptocurrencies are fiat currencies by nature, meaning they have no backing by anything physical. Cryptocurrencies are also usually not controlled by any government or country. The value of a cryptocurrency is solely determined by supply and demand as it traders buy and sell the currency on the public traded exchanges and the actual value they are providing to the merchants, consumers, and overall marketplace.

What Is Cryptocurrency?  Here is a visual explanation showing how cryptocurrency is revolutionizing our world:

“Cryptocurrency gives you ultimate control over when and how you use your money!”

Cryptocurrency is the solution to the failing fiat currency system imposed by the United States Corporation & Federal Reserve:

Andreas Antonopoulos explains how cryptocurrency is the most revolutionary “disruptive” technology since the invention of the internet:

With the rise of the cryptocurrency industry, the banks are experiencing the “5 Stages of Grief” on the path to becoming obsolete:

“Cryptocurrency empowers the average person to become ‘your own bank!'”

So what makes cryptocurrency so different than the money you usually spend online via credit and debit cards? There are a few key differences to be aware of:

  1. There is no central bank that determines it’s value or controls the flow of new money or ‘units of account’ being created.  So there is no manipulation of the amount of currency in circulation by a centralized institution like the US dollar is with the Federal Reserve.  The Federal Reserve controls the Dollar, but cryptocurrencies like Bitcoin are controlled only by their code to produce a limited amount of coins. No single person, company, or country can change this.
  2. The value of a cryptocurrency is determined by the market (whatever people are willing to pay for it).  Countries are not involved, so the welfare of your nation’s economy will not affect the value of your cryptocurrency.  The value of a true cryptocurrency is based solely on supply and demand, similar to a commodity or assets trading on the stock market.
  3. Cryptocurrencies have the lowest fees to transfer money anywhere in the world.  The fee is not affected by distance, country borders, or any other of the common factors.  This makes it very easy whether your objective is to transfer enormous sums of money globally or to conduct micro transactions with someone on the other side of the planet.

What Is A Cryptocurrency?: The Advantages

People love cryptocurrency because it offers an easy way to transfer money globally and provides privacy for making what-is-cryptocurrencytransactions.  For example, cryptocurrency can’t be traced like a credit card or a bank account can be to a specific transaction. At the same rate, all Bitcoin transactions can be forever traced to the specific ‘alias’ or wallet key that performed it.

what-is-a-cryptocurrencyThere is much debate about whether Bitcoin is either untraceable or 100 percent traceable.  If it can’t be traced, it has an immediate appeal for the black market.

Even though the media often only reports on cryptocurrencies as something only used by criminals to buy drugs on websites like ‘Silk Roads,’ the truth is that most people who use cryptocurrency are just regular everyday people like you and me.

Heck, I just had to accept money in Bitcoin from a Pakistani fellow last week.  They don’t have access to Paypal!  Bitcoin was a convenient solution.

What is a cryptocurrency? People like to talk about cryptocurrency because it is making it possible to maintain some privacy in a world where someone is always looking over your shoulders, whether its the government, an Internet service provider or data mongering corporations.  While with currencies like Bitcoin, you enjoy a high level of anonymity, thanks to the fact that your identifying information is not stored in your wallet.

The only thing is the transactions can still be tracked in the blockchain, where you can see the money trail of transactions.  Cryptocurrencies such as Monero, DASH, ZCash, and Bitcoin Private offer the ability for you to transact completely 100% anonymously by implementing strategies that prevent people from following the money.

So while Bitcoin started it all, in the free market, there will always be competition that will learn from the mistakes of it’s competitors to serve the consumers better.  What you see with many altcoins is surely to bring innovation and a better-designed mousetrap to market. And as the market continues to evolve, we will continue to answer the question: What Is A Cryptocurrency?

Still confused about Bitcoin, cryptocurrency, and the blockchain and how you can profit from it? Let me help you clear up your confusion and show you the way. Check out my FREE Crypto Mini Course using the following link:

FREE Crypto Mini Course <<== CLICK HERE

So whether you want to use it in everyday commerce, or purchase it for it’s potential increase in value and make some serious gains.  How do you get into the world of cryptocurrency? There are plenty of ways to get started, whether you are going to trade on the exchange or get into accumulating/mining coins.

What Is A Cryptocurrency?: It’s The Future Of Money.  At What Is A Cryptocurrency, we are going to provide you with information, news & education about this TRILLION dollar megatrend!

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