Cryptocurrencies have been becoming a hot topic of late. A large number of people are educating themselves about cryptocurrencies, buying...
Cryptocurrencies have been becoming a hot topic of late. A large number of people are educating themselves about cryptocurrencies, buying them, selling them or simply investing in. Many people look forward to trade cryptocurrencies which are basically the buying and selling of cryptocurrencies but not all of them are sure the process. Investing in the right currencies can give you a healthy return in terms of profits. But, the gateway to most of the cryptocurrencies is via Bitcoin which is the pioneer.
Whenever we deal with money, security is one of the ultimate concerns. Cryptocurrencies have numerous security protocols designed into the technology to ensure that individuals and the entire network are secure and protected.
The cryptocurrencies are stored in digital wallets that are available on many forms. Every bitcoins or altcoin users ought to have a wallet before beginning their crypto journey. On a personal level, each wallet is protected by a private key to which only the owner and no one else has access.
Your wallet also has an address that is used for transactions from wallet to another and vice versa. In order to place a transaction, you must digitally sign your public key with your private key to prove that the owner is authorizing the transaction. If someone else were to find out your wallet’s address, they would not be able to make any transactions as you know the keys.
However, be cautious while giving someone your private key as they would be able to authorize any transactions on your behalf and this might not be a wise thing to do. This is why it is of the utmost importance to safeguard your private key.
As mentioned already, the underlying technology of Blockchain makes it impossible to tamper with transactions once they have occurred. Additionally, because of the way transactions are reviewed, cryptocurrencies also aren’t vulnerable to the “double spending” problem where a person tries to pay two different parties with the same money.
The increased safety assigned by the algorithms in the network over conventional methods makes cryptocurrencies safer, and thus cost-effective. If you look at the transaction cost of most conventional ways of payment, the fees are charged to cover the issues like fraud, chargebacks etc. that is rampant across all users.
When you take away these costs as is the case of cryptocurrencies, you can provide ultra-low-cost transactions, sometimes just pennies in fees for thousands of dollar transactions.
Check out the following Infographic on The Most Popular Crypto Women, which was developed by MrBTC. This is all about the famous Crypto and Blockchain Women and their contribution to this industry.
Whenever we deal with money, security is one of the ultimate concerns. Cryptocurrencies have numerous security protocols designed into the technology to ensure that individuals and the entire network are secure and protected.
The cryptocurrencies are stored in digital wallets that are available on many forms. Every bitcoins or altcoin users ought to have a wallet before beginning their crypto journey. On a personal level, each wallet is protected by a private key to which only the owner and no one else has access.
Your wallet also has an address that is used for transactions from wallet to another and vice versa. In order to place a transaction, you must digitally sign your public key with your private key to prove that the owner is authorizing the transaction. If someone else were to find out your wallet’s address, they would not be able to make any transactions as you know the keys.
However, be cautious while giving someone your private key as they would be able to authorize any transactions on your behalf and this might not be a wise thing to do. This is why it is of the utmost importance to safeguard your private key.
As mentioned already, the underlying technology of Blockchain makes it impossible to tamper with transactions once they have occurred. Additionally, because of the way transactions are reviewed, cryptocurrencies also aren’t vulnerable to the “double spending” problem where a person tries to pay two different parties with the same money.
The increased safety assigned by the algorithms in the network over conventional methods makes cryptocurrencies safer, and thus cost-effective. If you look at the transaction cost of most conventional ways of payment, the fees are charged to cover the issues like fraud, chargebacks etc. that is rampant across all users.
When you take away these costs as is the case of cryptocurrencies, you can provide ultra-low-cost transactions, sometimes just pennies in fees for thousands of dollar transactions.
Check out the following Infographic on The Most Popular Crypto Women, which was developed by MrBTC. This is all about the famous Crypto and Blockchain Women and their contribution to this industry.
Top 8 Most Popular Female Influencers in Cryptocurrency and Blockchain Industries
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