Beginners Guide To Cryptocurrency

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Stock Photo: deniskot / Keyboard with a golden cryptocurrency tab

Cryptocurrency 101

Cryptocurrency has been around since 2009 and has grown in popularity ever since. But if you’re a beginner in the crypto industry, you might have a few questions like:

  • What is cryptocurrency?
  • How do you purchase it?
  • What is it worth?
  • What does it do?
  • Is it worth investing in crypto?

We’re so glad you asked all these questions! We did some digging and found some really valuable information regarding cryptocurrency. Here’s what we found:

What Is Cryptocurrency?

Beginners Guide To Cryptocurrency 102
Stock Photo: scyther5 / Golden Bitcoins sitting on top of a brown leather wallet on a laptop keyboard

Cryptocurrency is a form of virtual currency that can be traded or exchanged for other goods. There’s a wide variety of cryptocurrencies out there; in fact, over 3,000 types of crypto exist. Some are more serious like Bitcoin (the most popular) while others are jokes that ended up being successful cryptocurrencies, like the Dogecoin or the Coinye.

Cryptocurrency was built around very complex mathematics and computer engineering which is why it can often be complicated to understand. While the code to create cryptocurrency was actually developed back in the ’80s, it didn’t actually get put to use until much later.

How Do You Purchase Crypto?

Cryptocurrency uses a blockchain that records and stores all crypto transactions. The blockchain is run by crypto miners, people who create cryptocurrency through more complex equations and computer systems. Usually, a cryptocurrency transaction only takes a few minutes to be completed. These transactions are kept extremely secure through codes created by the user that are very difficult to hack.

Purchasing cryptocurrency is as easy as buying something off of Amazon. All you need to do is choose a service you’d like to use to purchase crypto (there’s quite a few out…

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