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Cryptocurrency explained: Blockchain, Investments & Co.
Cryptocurrency is nothing more than digital money. Here, all the important data around the holder and transaction is encrypted and stored. Instead of storing all of this on just one server, the transactions are found on a decentralized network – also called: The Blockchain. This technology makes transactions faster, more secure, and less expensive than they would be otherwise. Sounds like the future? Read our analysis here: cryptocurrency development.
There are many advantages to owning and trading cryptocurrencies. Transactions take place directly between the buyer and seller. It is a decentralized network. So unlike a bank transfer, exchange and bank fees are eliminated, as are transfer limits and unnecessary waiting times. Bitcoin trading is therefore not only uncomplicated, but also anonymous and secure. Instead of using your own name, all crypto assets are managed with an identification code. The blockchain technology also ensures that transactions are constantly checked in advance, making any manipulation and forgery almost impossible. Learn more about the technology, course and trade explained here: BitCoin, cryptocurrency & blockchain.
Reading tip: Which app do I use to buy and sell shares, cryptocurrency & Co. Here is the answer! My recommendation: Trading App.
Trading with Bitcoin, Ethereum, Litecoin & Co.
The cryptocurrency Bitcoin is now a household name. It is the most popular, but by far not the only one. In the meantime, several new creations have emerged. Some of the others are Bitcoin further developments. There are now over 4,500 cryptocurrencies. Although this sounds like a large number, only just under 100 of them achieve a daily trading turnover of 1,000 US dollars or more. Other popular cryptocurrencies include Ethereum, Ripple and Litecoin.
Cryptocurrencies – List
Here you can find a selection of interesting digital currencies:
Binance Coin (BNB)
- Binance Coin (BNB)
Bitcoin Cash (BCH)
- Bitcoin Cash (BCH)
Ethereum Classic (ETC)
- Ethereum Classic (ETC)
- IOTA (MIOTA)
- Tezos (XTZ)
- TRON (TRX)
Questions and Answers: Cryptocurrency
So now you know what the blockchain technology is, what cryptocurrencies there are and what advantages trading Bitcoin and Co. brings with it. Finally, you will get all the important questions about trading cryptocurrencies answered:
Which is the best cryptocurrency?
The best cryptocurrencies include the classic Bitcoin, as well as IOTA, Ripple, EOS, Litecoin, Binance Coin and Tether.
Which cryptocurrency has a future?
According to forecasts, Bitcoin, Ethereum, Ripple and NEO have the most potential to increase in value in the future.
Are gains from cryptocurrencies tax-free?
The speculation period for cryptocurrencies is one year. If a profit of 600 euros or more is made during this period, the total profit must be taxed. So if the coins are left in the wallet for at least 12 months and only paid out after the speculation period, no taxes are due.
Should you invest in cryptocurrency?
Only invest in cryptocurrency if you are familiar with the blockchain technology, the different currencies and wallets. After all, this is a decentralized network based solely on demand. So always be aware of the risks and only invest if you are really sure and know how to trade cryptocurrencies.
Cryptocurrency: Reading Tips
- Trading App: Recommendation
- Trading strategies
Trading App: Recommendation
eToro App – Trade stocks, ETF, cryptocurrency, in my blog you have already learned a lot about trading. Lots of questions of course: which app do you trade with, what do I recommend? So today I want to share with you my favorite trading app, eToro. 29.88% asset growth in 12 months, with low risk through “Copy People” and “Copy Portfolios” or up to 127.35% through active trading and trading strategies. Learn about the app, fees and more here step by step.
Whether it’s crytocurrency, currency trading, stocks, commodities or precious metals, these 3 strategies will help you understand the basic stock market game. I developed these 3 strategies to help beginners and novices understand the mechanics in a nutshell. Since I grew up with bitcoin rather than stocks, here in particular a strong reference to digital currencies. But the mechanisms or strategies are the same for these 5 investment types: crytocurrency, currency trading, stocks, commodities or precious metals. I would exclude ETF and index funds here, as the risks and price fluctuations are significantly lower here.
Did you already know? Open transactions in the blockchain
Cryptocurrency itself is, simply put, a coded chain of data. The so-called blockchain.
How does cryptocurrency work?
Everything is set up as a P2P network (peer-to-peer). Data is therefore stored decentrally. All data blocks are linked to that of the predecessor. Within this distributed database, all transactions are actually known!
So the whole thing is a network where cryptographically signed messages are published – technical term: blockchain. You want to take a look at these transactions? Look here live, how individual trades sometimes sell up to 100 Bitcoins and millions go over the table: