Artex Global acts as a guide to the world of cryptocurrencies. We've been dedicated to our cause since 2015. Our team is located in different parts of the world, but that does not stop us from providing our users with up-to-date and reliable information about cryptocurrencies.
The term "cryptocurrency" refers to digital forms of currency. It is created and transmitted using cryptographic methods, mostly based on blockchain technology. "Coins" are initially issued electronically, literally by performing mathematical calculations. In simple words, a cryptocurrency is an artificial payment system, equated to real money, with an official exchange rate.
The concept of cryptocurrency in simple words
The term "cryptocurrency" first began to be discussed in 2011, starting with the publication of Forbes magazine. Since then, the name has become firmly established and applied to koins (literally coins) that have no expression in the form of paper banknotes or metal coins. This kind of money exists exclusively in the digital space.
Unlike other electronic payment systems, cryptocurrency initially appears without the participation of real money. To become the owner of a certain amount of coins, it is enough to connect to the service of their creation, become a member of a single mining network and wait for your "earnings". This is the key difference between cryptocurrency and real money.
Why virtual money is popular
Any type of cryptocurrency has no official status as a means of payment (although a number of countries have already recognized bitcoin). But typical features like decentralization are attractive to users. The owner of any of the existing cryptocurrencies is not tied to any geographic location, state or political system. Despite being tied to real money like the U.S. dollar or the euro, digital money is "valuable in its own right.
Virtual money has gained popularity for the following reasons:
- High prevalence, versatility. It's easy to create a wallet on any computer, smartphone or tablet on a variety of operating systems.
- Simplicity, openness of settlement operations. Full history of incoming and outgoing transactions is stored with no time limit.
- Each node of the cryptocurrency generation system is equal, there is no single center, which eliminates the possibility of blocking wallets, cancellation and control of payments.
- Maximum anonymity increases the independence of the payment system. When making payments, it is possible to specify the address, account number at will of the owner of the purse from which the payment is made.
Transactions are protected by cryptographic method. Without passing a block with a special verification code it is not possible to confirm financial transaction. If it is done, no one can cancel money transfer, which excludes fraud when paying with cryptocurrency for goods/services.
Due to the high reliability of electronic wallets, protected by a private key, cryptocurrency can be used to create savings. Savings are useful as a universal means of exchange, a way to pay in online stores or on freelance exchanges. Many users accumulate bitcoins, counting on a significant increase in the exchange rate against the U.S. dollar.
We are going to significantly develop our service and for this purpose we are looking for a qualified writer to maintain our WordPress blog and social pages. We registered on Problogger with the hope that the right person who understands cryptocurrencies will be here. We will be glad to have a new employee in our ranks soon.