Introduction to CryptoCurrency
A Crypto currency is a new form of currency that is
entirely digital. This means that it
exists solely on its own network.
Ever before the advent of cryptocurrencies, the world is
only aware of Gold, paper currency and many e-currency exchangers.
However, economist believed there should be a currency
that will be widely acceptable, which will not be subjected to inflation by
government policies but have its own standard.
It was unanimously agreed that only crptocurrency will
fill in this gap.
In 2009, Satoshi Nakamoto created the first
cryptocurrency called Bitcoin. This was a major breakthrough to the world
economy.
No sooner had people started accepting Bitcoin that many
scientific errors were discover in its make and operational principles, this
lead to further experiments to improve on it.
The further experiments resulted in creation of more and
more cryptocurrencies each with is improvements and additional features over the
other.
However, one thing is common in all, there was no organized
entity supervising and monitoring their existence to control the mining and
creation process, all of them are left at the mercies of the populate who are
allowed to mine them at will.
How Are Crypto currencies Acquired?
Crypto currencies are generated
through a process called mining, which is done through a miner’s computer.
Essentially, computers are given extremely challenging hashing algorithms to
decrypt. When a hash is decrypted, coins are generated. As more coins are
generated, the problems to solve get even more challenging, making the influx
of coins slower and slower. The process of solving the problem is often
referred to as ‘finding blocks’.
Alternatively, crypto currencies can
be purchased through a crypto currency marketplace such as Cryptsy.
How Do I Mine Crypto currencies?
You can mine crypto currencies by
downloading a crypto currency miner and setting it up to connect to a mining
pool, which is essentially a group of computers that work together to find
blocks. Your computer uses its hardware to contribute shares to the mining
pool, and when a block is found, the payout is divided up based on how many
shares you contributed. A full tutorial on mining will be available on this
soon.
Can I Make Money with Crypto currencies?
Yes, it is very much profitable to
make money with Crypto currencies, through both mining and investing. In fact,
some of the early miners and investors of Bitcoin are now millionaires.
Live Examples
A Norwegian by name Kristoffer Koch
invested 150 kroner ($26.60) in 5,000 Bitcoins in 2009, after discovering them
during the course of writing a thesis on encryption. He promptly forgot about
them until April 2013 when the widespread media about crypto currency jogged
his memory.
He quickly valued his investment and
discovered that a small investment of about $27 has turn into $866, 000 enough
to buy an apartment in a wealthy area of Oslo.
Also in 2010, a man was said to buy
a burger for 11500 Bitcoins.
Today, the net worth of the same
value of bitcoin just after 5 years is estimated to be about $8million.
This is the magic of Crypto
Currencies.
Read more details here
Can you now imagine if you can also
invest some of your income today into crypto currency and allow it to run for
one or two years?
You would have been able to build a
store of good cash against rainy days without any stress.
How Do I Invest in Crypto currency?
I will advise you to look out for a
comparatively cheaper crypto currency; this will enable you to maximize your
money for a very profitable yield. One Bitcoin as at today go for as high as
$400, this is a lot of money for new investors and people who just want to risk
some hard earned income.
I will therefore advise that you go
for a less expensive crypto currency.
I highly that you invest in
LEOcoin
To get more details, visit this
website
Why LEOcoin is the BEST Cryptocurrency?
1. LEOcoin unlike other cryptocurrencies is the product of
a well established organization, this enable proper management supervision which
helps to maintain durability and profitability
1. The Founder -
Very Transparent and LEO have 10 Offices Worldwide such as England, Dubai,
Canada, Hong Kong, China, Philippines, Egypt, with more than 204,000 members in
120 countries worldwide
2. LEO Company has
a Solid Foundation with LEO Eco-System
-LEOcoin Cryptocurrency
-LEO Travel
-LEO Crowd
-LEO Towers (Properties)
-LEO Cafe
-LEO Exchange
-LEO Marketplace
-LEO Bank
-LEO Charity
-LEO University.
Only LEOcoin have this kind of Eco-System.
3. LEO is a member of DSA - Direct Selling Association of
USA, Canada, UK, Philippines, Pakistan, Australia & So on WFDSA.
4. LEOcoin is a member of Digital Chambers of Commerce.
5. LEOcoin is already in Proof of Stake - Only LEOcoin,
the other coins are in Proof of Work.
6. It is already accepted public exchanges to trade
LEOcoin to other Cryptocurrency :
☞
www.leobit.net
☞
www.coingecko.com
☞
www.c-cex.com
☞
www.livecoin.com
☞
www.coinmarketcap.com
☞
www.megacrypton.com
☞
www.Leoxchange.com
☞
www.cryptopia.co.nz/
7. LEOcoin is already presented in UK Parliament.
8. LEOcoin have already own Mining Farm/Facility in
Iceland.
9. LEOcoin have a blockchain and LEOcoin Wallet for
Windows, MAC OS Wallet, Linux Wallet, Android Wallet & IOS Wallet
10. Not only LEOcoin cryptocurrency you have also
Opportunity to Learn, Earn & Own your own Business
with up to 1,400,00 Pounds Rewards.
11. LEO Company has Thousands of Entrepreneurship
Trainings and Technology Products.
12. LEOcoin is always in the BTCNEWS, TECH News and Cryptocurrency
Forum.
Be part of the Crowd ...Be part of our Community...JOIN
LEO NOW!
http://LearnEarnOwn.com/prosperkay
I am so sitting tight for another blog this way.
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