What crypto will explode in 2021? The year 2020 was one of the most challenging for the global economy and the traditional financial system. With a massive global pandemic, lockdowns and a fear of a global recession, more and more institutional investors fled towards cryptocurrencies as a possible alternative to traditional financial assets or a …
What are the dangers of cryptocurrency? The world is trying to understand what to do with the newly popular cryptocurrencies that have emerged. 2017 was a breakout year as prices soared higher. All sorts of investors jumped in to speculate on their future – a theme that repeats itself. However, before you jump in, it’s …
AUSTRALIA’S TOP CRYPTO CURRENCY EXCHANGES 1- SWYFTX 2- COINSPOT SWYFTX ★★★★★ COUNTRY Aus Based USER FRIENDLINESS Swyftx boasts a 5 star user friendliness website and app FEES Low Fees at .06% # Coins Traded 200+ When opening an account with Swytx you will be given your own personal account manager, this is just an example …
One of the core features of the Bitcoin currency is its limited supply. The importance of a limited supply has never been more apparent than now, as central banks around the world ramp up their money printing to unprecedented levels. Gold is valuable because no matter how high the price only a small amount can …
The best cryptos to buy in 2021 We don’t mess around, here it is. In no particular order, our picks are. Bitcoin Bitcoin Cash Ethereum Ripple Litecoin EOS Tezos [XTZ] MakerDAO TRON Cardano Crypto currency is highly speculative, do your research, arm yourself with the …
What is Crypto Currency?
Cryptocurrencies, also known as virtual currencies, cryptos and digital currencies, are a form of electronic money. They do not physically exist as coins or notes. A cryptocurrency unit, such as a bitcoin or ether, is a digital token. These digital tokens are created from code using an encrypted string of data blocks, known as a blockchain.
Cryptocurrencies are used as payment systems to execute contracts and run programs. Anyone can create a digital currency, so at any given time there can be thousands of cryptocurrencies in circulation.
What is Blockchain Technology?
Blockchain is a form of database in which data is stored in blocks that are then chained together. As new data comes in it is entered into a fresh block. Once the block is filled with data it is chained onto the previous block, which makes the data chained together in chronological order.
Blockchain is most commonly used at this time as a ledger for transactions.
Based on a peer-to-peer (P2P) topology, blockchain is a distributed ledger technology (DLT) that allows data to be stored globally on thousands of servers – while letting anyone on the network see everyone else's entries in near real-time. That makes it difficult for one user to gain control of, or game, the network.
In Bitcoin’s case, blockchain is used in this way, as a decentralized public ledger so that no single person or group has control—rather, all users collectively retain control. This is one of the factors that gives crypto currency its appeal.
How initial coin offerings (ICOs) work
An ICO is a way a project can raise money over the internet. You invest in an ICO by sending money or cryptocurrency to a blockchain project. In return you receive digital tokens related to that project.
ICOs are speculative, high-risk investments. Many ICOs are for projects that:
are at a very early stage of development
may not have even started yet
Some projects may take years before they become commercially viable, if at all. A large number of ICOs fail or do not increase in value.
ICOs sound similar to initial public offerings (IPOs). But ICOs usually don't offer any legal rights and protections. Investing in an IPO means you are investing in an established company or asset, rather than a project.
While ICOs use the internet to raise money they are not the same as crowd-sourced funding. Crowd-sourced funding offers basic investor protections under Australian law.