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A cryptocurrency is a digital asset that is stored electronically. You're probably familiar with digital transactions, such as online banking, bank transfers or even PayPal. Cryptocurrency operates in a different way to these types of transactions as it operates without reference to a central authority, like a bank. It can perform a direct transfer from person to person.
A blockchain is a database, like a spreadsheet where information can only be added, and nothing can be deleted. This is how all transactions for Bitcoin and other cryptocurrencies are recorded and stored. Three key benefits to blockchain technology are that it is secure, cost effective and speedy when it comes to processing transactions.
Traders buy & sell crypto within short periods of time with the intention to make profit. Traders often use a strategy called 'Technical Analysis' to help them decide when they will buy and sell.
Investing in crypto typically involves holding it for a longer period of time, with the intention that the asset will increase in value and result in a profit.
From coffee ☕️ to cars 🚗, the list is growing daily. The easiest way to make purchases using cryptocurrency is to use a Crypto Debit Card.
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