The Top Ten Crypto Questions Answered.
Bitcoins and other crypto coins have taken the world by storm. No one anticipated that Bitcoin would overcome the challenges that plagued it during its inception in 2008. However, bitcoins have continued appreciating value and spawned over 2,500 other coins. Will they replace the normal currency in the future?
Here we answer the most common questions and answers about digital currency.
- What Are Bitcoins?
A Bitcoin is a peer-to-peer paperless digital currency that came into existence in 2009. It is a decentralized form of currency that has no central regulator. It is controlled by the users. What this means is that no one, not even the government, can block your bitcoin transactions. You can transfer or receive bitcoins through your mobile phone without any bulky paperwork.
- Who Invented Bitcoins?
The idea of having a cashless and decentralized money transfer system was conceptualized by an anonymous figure called Satoshi Nakamoto. In a white paper published in May 2008, Satoshi outlined in detail how the digital currency would work.
According to him, bitcoins were to be mined by specific computer software and hardware. After mining, the currency would be transferred directly from one user to the other without any intermediary. This movement of bitcoins would then be recorded in a tamper-proof public ledger.
- What Makes Crypto Currencies Special?
One special thing about digital currencies is the fact that one can receive or send currency without having to go through a third party. Transacting in other traditional currencies requires third parties such as banks or financial intermediaries.
Every transaction is recorded in a blockchain. All recorded transactions can be publicly viewed and are not editable. This reduces the chances of fraudulent bitcoin transfers.
- What Is a Decentralization of Currency?
Most cryptocurrencies are decentralized. This means that no single entity or groups control them. The advantage of decentralization is that the currency can be spent anywhere in the world provided that the recipient acknowledges bitcoins as a form of payment.
Decentralized currencies have no geographical boundaries. Since there is no central regulation, some countries are wary to allow digital currencies as legal forms of payment. However, some countries like Japan have recognized bitcoins as a legal currency.
- How Do You Use Crypto Currencies?
Crypto currencies are similar to paper money in that they can be spent or used to settle debt. For some people, cryptos are an investment because of their ever-increasing value. For others, they are used for transferring money internationally. Digital coins are stored in electronic digital wallets. These digital wallets can either be desktop, mobile, hardware or even online based.
- How Many People Use Digital Currencies?
The exact number of users is hard to determine. This is because there are no official central records of the users. However, this number can be estimated based on the number of digital currency wallets. As of September 2017, there were about 20 million active wallet users. Generally, there is a steady increase in the number of people transacting in crypto coins.
- How Do I Get Digital Currency?
There are three ways of getting cryptos. The first one is through mining. Initially, this was a very profitable venture. It is no longer, however, cost effective for individuals. In this method, one buys specialized mining equipment, rents spaces for them digitally and pays the associated costs for them. The associated costs include cooling, electricity and rental costs.
You could also buy currency. There are plenty of online exchanges where buying and selling takes place. You can also buy them from other individuals. Alternatively, you could work for them. Some employers pay their employees in terms of bitcoins instead of normal currencies.
- How Will I Spend, Receive or Send Crypto Currency?
Every digital wallet has its own unique address. This address represents a destination. The address is usually alphanumeric having between twenty seven and thirty four characters in length. Most wallets are user friendly and have interfaces that are easy to navigate. If you want to send currency, you must first ensure that your wallet balance is positive.
You then insert the address of the intended recipient and then press the send button. You will be charged a small fee for the transaction. Within a few minutes, the transfer will have been completed.
You can open a wallet for FREE here: FREE WALLET
- What Are the Benefits of Cryptos?
Digital transactions are cheap. Normal currency transactions are expensive, especially where large amounts of money are involved. Another advantage of transacting in cryptos is that it is tax free. Since it is not controlled by the government, no duties or taxes are payable by either party.
Cryptocurrency payments are also some of the safest payments methods of funds transfer. There is no identity theft as is the case with credit cards. Finally, transactions are very fast and convenient. It only takes a few minutes for a transfer to be successful.
- What Are the Disadvantages of Cryptos?
Despite the many advantages, they still face several challenges. They are not globally accepted as a form of currency. Some countries have banned any digital currency transactions. Only a few countries like Japan have fully legalized bitcoins or any other currency. Another challenge facing digital currencies is the fact that they are exposed to massive fluctuations in value.
Some days are good while some days are bad. Depending with the date of the transaction, this can result in disputes. Finally, transactions are not regulated by any central authority. As such, buyers and sellers are not fully protected.
In conclusion, cryptos are here to stay and expanding rapidly. We either embrace them or get overtaken by them.
They are not confusing or scary but just another form of exchange like, cash, credit or debit cards.
The quicker you research and start to follow, buy or use them the easier they become to understand and master.
Right now, there is a very interesting coin which is about to be launched.
This coin has many unique features and is available at a heavily discounted rate with bonuses for investors and referrers.
The currency is called the Aset token and comes from a company called Assetereum.
They are currently hosting an ICO (initial coin offering), like a crowd funding campaign or share release.
Here are the key facts to consider:
- Easy to buy – no wallets or exchanges needed.
- Affordable – the minimum investment is just £10
- No fuss– you can invest online with a debit card
- Established company – Assetereum has five trading arms of which two are already profitable and giving returns
- Asset backed – 95% of money raised goes straight into acquisition, consolidation and growth.
- UK based – the company is based in Leeds and fully contactable.
- Instant profit -before the May launch all tokens are sold at a discount
- Monthly returns – investors will receive a monthly payment based on the number of coins they hold
- FREE money – investors will be given bonus tokens up to 20% dependent on investment level, referrers will receive 10% bounty of finder’s fee when they introduce investors.
- Global exposure – the coin is the main sponsor for the World Seniors Snooker Tour and televised. As well as Joe Johnson being company ambassador, the Assetereum logo will appear both on the snooker tables and on ALL the players’ waistcoats. Players include living legends Stephen Hendry, Jimmy White, Dennis Taylor, John Virgo, Cliff Thorburn and Ken Doherty amongst others.
- Breaking records – the Aset token is the first crypto currency ever to be offered as prize money at a major sporting event.
This is a real opportunity to join the crypto revolution with minimum fuss and the prospect of a very healthy return.
Affordable to everyone and based in the UK for extra security, this coin is set to be a winner.
For more info, to download the white paper which details everything about Assetereum and their coin release or to buy, please visit:
Alternatively contact me and I will answer any questions you have.
I hope this has made the whole crypto scene clearer and hope you will look closely at Assetereum and the Aset token. I think it is a fabulous opportunity and have bought in myself.
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