Ever thought about getting into the Crypto Currency Craze? The first thing you need to do is set up a blockchain wallet. I will explain. Or at least try. Let us start with some definitions.
So what is a blockchain wallet?
A crypto wallet is where you store the public and private keys that allow access for sending, receiving, managing cryptocurrencies like Bitcoin, Ethereum, USD Coin, Lite coin, and many others. And there are basically two types of blockchain wallets.
- Software wallet, or hot wallet– This is an application that you can install or connect to devices like your Smartphone or computer.
- Hardware wallets- This is a physical piece of technology, similar to a USB thumb drive. Allowing you to keep your private cryptographic keys offline until you are ready to use them to complete an online crypto transaction in the future.
So what is a blockchain and how do you use it?
This is a decentralized ledger storing all transactions in a peer-to-peer network. Allowing the participants to confirm transactions without using a central clearing authority.
You will need a blockchain wallet in order to access any digital database that allows you to exchange, utilize, or redeem your Cryptocurrency. Keep in mind that this is a virtual environment, or Digital World. Your wallet identifies you and how much Cryptocurrency you have access to.
Thinking About Starting Your Journey Into The World of Cryptocurrency?
The first thing you need to do is set up your own blockchain wallet. This is best way to learn more about them. COINBASE is probably the easiest to set up. They also offer incentives to new customers as well.
There are a wide variety of crypto wallets available and each one is designed with a different purpose or resource inside the blockchain. Like it, or not, cryptocurrency is the digital future that we are heading towards.
How do I Make Money With Cryptocurrency?
Just like you make money with any other currency. There are a lot of different ways you can increase the amount of cryptocurrency in your wallet. But basically you invest, or stake it. The staking (investing) of your cryptocurrency is when you pledge a portion of the crypto in your wallet to help validate a transaction in a specified blockchain.
Although some of these investments have an APY of 25% or more. Most start at .01% and go up from there. And as with any investment there are always risk involved. So please do your own research before investing in cryptocurrency blockchain.
Where Can You go to Earn Cryptocurrency?
If you are wanting to start your journey into the digital world of Crypto Currency, there are several apps and programs that will allow you to mine Cryptocurrency passively.
- The first one works in the background on any 64 bit OS computer or laptop and will mine for free Bitcoin in the background while you are working on other projects.
- The second is Inpersona uses WEB 3.0 technology to keep track of your medical data and lets you control who has access to that data. And while you are wearing the device it uses your vital readings to mine for VIVO COIN.
Response Magic