Introduction to Crypto Currencies


Why digital currencies?

As for digital currencies, there are reasons to create the currency or continue to deal with it, it enables you to have some advantages that you do not find in paper or metal currencies because digital currencies differ from them in many things such as payment methods, the cost of transfer to another person, control methods and ways to get it

In the beginning, I will first explain how to get digital currencies:

The digital currency differs in the way it is obtained from the regular currency in transactions that are made to get the regular currency controlled by a specific commodity, country or effort. As for the digital currency, it mainly depends on solving complex mathematical problems that are done through the computer processor so whatever the power of the processor The bigger the faster the solution to complex issues, the difference here is that their accessibility does not depend on the human element at all.

Who is the controller in digital currencies?

As is the case in ordinary currency, it is controlled by central banks, etc. The regular currency is spent according to the return from gold, such as, and here we note its association with something to exchange or control it and you may meet here some actions from the controllers that are illogical, but in digital currencies, the controllers are the people who own their own currency, it is similar to a system for voting on each currency, so for every currency, A certain audience is working in this currency to raise its value traded on the platforms.

How to collect them and get them?

There are many ways we will mention three ways to get digital currencies:

(1) It is by way of banking transactions, which is a simple way, and some banks actually begin to deal in digital currencies.

(2) It is by transferring from a person who owns the digital currency to another person who has a digital wallet so that the digital currency is converted to it and this takes a short time compared to the time that banks take in converting regular currencies to their customers.

(3) It is by solving complex problems in which powerful treatments are used to accelerate the process of solving these equations in a faster time or by performing some tasks via the Internet such as airdrops.

How much does it cost to use the digital currency exchange service?

One of the advantages of using a currency is its speed of transfer and its simple cost compared to banks. As we know that the cost imposed by banks in banking transactions is high in price and in some times it is a percentage, but in digital currencies, dealing in their transfer does not cost from (0-0.01).

How are my cryptocurrencies saved?

There are many ways for you to save your cryptocurrency, and I will mention it 4.

It is divided into two parts, the first is hot storage (on the Internet), and it is in two ways:

(1) It is via an e-wallet and does not have to be a common medium

(2) By discharge sites

A Storage of a coin is called cold storage:

(1) USB flash

(2) QR code

Do digital currencies have a role on the Internet?

Digital currencies have become a payment feature of more than 14,000 websites, and this number is increasing daily.

Is digital currency deal only on the Internet?

After the success achieved by the digital currencies on the Internet, there are now physical stores that can be dealt with.

Is the digital currency isolated from paper currencies?

Digital currencies You can convert them into banknotes from the exchange center that deal with digital currencies. In the end, I recommend you if you do not have a digital currency, you have missed many profits.

Thank you

Community member: Moh Sayed

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