CRYPTOCURRENCY 101

A NEW DIGITAL REVOLUTION HAS JUST BEGUN.

Cryptocurrencies are the next wave of the internet revolution. Before we explain please take a moment to watch this brief video. Keep in mind that Bitcoin is just the first cryptocurrency. There are many others like it.

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Cryptocurrencies are a new system providing a truly free, fair, open, decentralized and government free network for money and payments.  It’s an egalitarian, liberal financial system without buildings, employees, policies, taxes and intervention. It’s a system where anyone can open an account, that does not require identification and is completely free. It is a financial system without borders, central bankers, restrictions, regulations or politics.The most important feature of the system is that there is a finite number of currency units issued. There’s never any inflation. The price of the currency depends on supply and demand. The currency is impossible to counterfeit. It is based on a revolutionary technology called The Blockchain.

It’s ironic that Bitcoin emerged as a global currency in 2008 when a complete financial meltdown wreaked havoc on people, companies and countries. Individuals lost faith in the banking system and financial institutions. Bitcoin has inspired more than 700 other cryptocurrencies since then. Bitcoin showed to the world that there’s an alternative system to our existing financial institutions.

10 FACTS YOU SHOULD KNOW ABOUT CRYPTOCURRENCIES

  1. NO ENTITY CONTROLS CRYPROTCURRENCIES

    No Central Bank, no government, no corporation, no single person.

  2. THERE’S ALWAYS A FINITE NUMBER OF THEM.

    They can never be issued again. No new units cause inflation.

  3. THEY HAVE NO INHERENT OR SET VALUE.

    There value is based on supply and demand. Pure market economics.

  4. YOU CAN SEE EVERY SINGLE TRANSACTION

    Every transaction is publicly recorded (of course without identities) and can be verified. The first currency with full transparency.

  5. CRYPTOCURRENCIES ARE MINED

    For providing hardware and verification software certain people are rewarded with payments. They are called miners.

  6. YOU CAN NEVER REVERSE A TRANSACTION

    Once a bitcoin payment is made it can not be reversed.

  7. CRYPTOCURRENCIES CAN BE STORED IN AN ONLINE ACCOUNT OR IN DIGITAL WALLETS.

    Digital wallets are small physical hardware that store your cyrptocurrencies. Once you lose it, it’s gone forever.

  8. YOU CAN SEND MONEY TO ANYONE WITHOUT ANY FEES.

    With cryptocurrencies there’s no trasnacation fees, wire fees or bank fees. The money is available instantly.

  9. YOU CAN GET AN ATM OR DEBIT CARD FOR SOME CRYPTOCURRENCIES.

    Bitcoin VISA and ATM cards are used by tens of thousands of people every day. Here’s one: Click.

  10. YOU CAN SHOP WITH CRYPTOCURRENCIES.

    There are hundreds of thousands of stores online and offline accepting Bitcoin. Check this one out: Click.