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CRASH COURSE ON CRYPTOCURRENCIES. By – Javed Mistry.

WHAT IS A CRYPTOCURRENCY? Think of a cryptocurrency as a digital version of fiat currency such as the USD or GBP. Cryptography is used to secure the transaction as well as control the creation of new coins. In layman's terms, it is a digital currency that is mined instead of printed..

HOW DOES ONE ACQUIRE A CRYPTOCURRENCY? A cryptocurrency such as Bitcoin is acquired by purchasing the coin via a wallet in typical fiat currency (this can be done via a credit card or wire transfer) and the wallet then allows you to buy various different cryptocurrencies using your fiat currency..

WHAT IS A BLOCKCHAIN? To begin with, a block is where the data for the transactions are stored, the linked decentralised series of the blocks is what is named a blockchain. Blockchain is the structure of relational data storage that provides the ledger and backbone of the coin..

HOW DOES ONE INVEST IN CRYPTO? There are numerous ways of investing in cryptocurrencies, these range from simply buying and holding the coins on an exchange. This can be perceived as risky, as Exchanges have been hacked and coins stolen, for example, Mt. Geox: https://goo.gl/JBhSvL. Trading on one of the cryptocurrency exchanges (still risky as the funds are held on the exchanges' hot wallet, and many of these exchanges are unregulated) storing on a computer wallet and the risk of being hacked, paper storage (which can be tedious and troublesome) or a hardware wallet which is a combination of software and hardware (and most popular at present) are some of the options to trade these cryptocurrencies..

ENTERING THE The first thing you'll need to do is decide which cryptocurrency you wish to purchase. There are hundreds to choose from, and each is slightly different from the other. Rather than researching the multitude of cryptocurrencies currently in existence and diving headlong, especially for first-time investors, it may be a better idea to spend some time following the trends and getting to know the basic and most prevalent currencies, and then begin to branch out once the basics of a few tokens are fully understood. The following is a list of the most popular by trading.

1. Bitcoin (BTC) Price: $44,011 Market cap: $808 billion As the harbinger of the cryptocurrency era, Bitcoin is still the coin people generally reference when they talk about digital currency. Its mysterious creator — allegedly Satoshi Nakamoto — debuted the currency in 2009 and it’s been on a roller-coaster ride since then. However, it wasn’t until 2017 that the cryptocurrency broke into popular consciousness..

ADVANTAGES OF CRNTOCURRENCIES Easy and Fast Payment: Make payment without using your credit card or sign any document. You just need to know information such as the wallet address of person or organization to whom you want to transfer money and payment transfer processing is very fast and can take place in a matter of seconds. Secure: The use of military grade cryptography ensures that transactions remain secure. No person except the owner of a wallet can transfer or receive payments from a wallet Low or No Fees: Banks and Payment Processing companies charge fees to conduct payment and fund transfer but with crypto currencies. these fees can be eliminated and are very low- No Fraud: An option where another party can chargeback for example if the payment is made with a Credit Card does not exist. Once the payment is sent. it can never be reversed EASY I SECURE LOW FEES I NO FRAUD.

DISADVANTAGES OF CRYPTOCURRENCIES Irreversible Payment: There's no center point in payment processing so if you transfer money to someone by mistake and want to get a refund for services there's no option to dispute that person and the only way to get your money back is to ask the person to refund payment and if he/she refused then you may as well forget about it. Not Widely Accepted: There are not many companies or websites who accept these cryptocurrencies, and if you have cryptocurrencies and wanted to purchase something then you have to search first which service provider accepts it. even if you don't like their services and have only cryptocurrencies then you have to use it even if you don't like that provider. also bear in mind that in physical stores you have to use real money instead of digital money. Losing Your Wallet If you stored your digital currencies in your system or mobile and if you lose it then there's no way to get your money back and you are unable to complain to the Police or any other similar Authorities. However, there are still ways to keep safe, like keeping it offline. IRREVERSIBLE PAYMENT LOW ACCEPTANCE HIGH-RISK OF LOSING WALLET.

TOP WAYS TO EARN CRYPTOCURRENCY WITHOUT SPENDING A PENNY IN 2022.

Bitcoin Faucets. A Bitcoin faucet can be defined as a reward system from which small amounts of Bitcoin can be rewarded , known as Satoshi, the one-millionth unit of 1 Bitcoin (0.00000001 BTC). The reward system offers you Satoshis in exchange for solving captchas , clicking links or other simple tasks..

So faucet is vvhat controls the vvater flov.r and helps it fall drop by drop, The vvorld Cryptocurrency faucet has taken inspiration frozn this and signifies that one urill receive rev•ards that are srnall, just like srnall drops of vvater dripping frorn a leaky faucet. For instance in the case of Bitcoin faucets the peyouts are awarded in Satoshi, or one-hundred-rnillionth ofa Bitcoin = O. 000000001 BTC. Any tiny arnount you earn out of those faucets gets transferred into your wrallet, the kind and cornplexities of the task deterrnine the revvard value, like vvatching a tutorial or blog video Inay revvard you rnore, but just clicking a link or cornpleting the captchas rnay rewrard you less. Rernernber! Crypto faucets are not your get-rich-quick scherne, you will have to engage with those faucets for a day or a week to accurnulate and achieve the required threshold before it can be verithdravvn frozn the vvallet. So patience and tirne vvell invested is vvhat will be required..

DO Crypto Faucets Work? As discussed crypto faucets are largely driven by the set Of tasks that need to be perforrned by the user in order to earn crypto revvards. so faucets set up the followving types Of activities • Cornpleting Captcha Watching Video Clicking on Ads Cornpleting tutorials and atternpting quizzes. Vvrebsites or rnobile applications running crypto faucets generally configure the threshold of the crypto to be allocated to the faucets pool. They set the rninirnurn pay-rnent threshold before the collected revvards can be clairned by the user. Also, they set a tirnelock for users to clai1T1 those rev•ards. Every participant has to sign-up vvith the crypto faucet by furnishing their basic info along writh the v•allet address vvhere they vvill receive the revvards. They vvrill see the list of above-rnentioned task, vvhich they need to cornplete, Once they cornplete those task they keep on earning the revvards vvhich get transferred to the Elicro vvallet.

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