thatIn this tutorial, I will teach you how to earn free cryptocurrency 2019-2020. there are two ways of making money on cryptocurrency.
Origin of cryptocurrency
The first cryptocurrency was reviled by Satoshi Nakamoto in 2008 called bitcoin. He explains the functionality of the Bitcoin blockchain network. Satoshi Nakamoto who is the founder of bitcoin, has never reviled his true identity till this day. So no one knows who he is.
Advantages Of Cryptocurrency
The greatest of all advantages of cryptocurrency is that unless you’ve delegated management of your wallet over to a third-party service.
You are the sole owner of the corresponding private and public encryption keys that make up your cryptocurrency network identity or address.
The strong encryption techniques employed throughout the distributed ledger. Blockchain and cryptocurrency transaction processes are a safeguard against fraud and account tampering, and guarantors of consumer privacy.
When a cryptocurrency transfer transaction is been authorized. It can’t be reversed as in the case of the charge-back transactions allowed by credit card companies.
This is a hedge against fraud which requires a specific agreement to be made between a buyer and a seller. Regarding refunds in the event of a mistake or returns policy.
There may be some external fees involved if you engage the services of third-party management service. To maintain your cryptocurrency wallet.
One of the other advantage of cryptocurrency is that, the transaction fee is far more less than the transaction fee charges incurred by traditional financial systems.
This means that the central authority has no power to dictate rules for owners of coins. Even if some part of the network goes offline, the payment system will continue to operate stably.
The cryptocurrencies have no central authority to control, the network. It is distributed to all participants, and each computer mining nodes is a member of this system.
In the cryptocurrencies blockchain, you can pay using your wallet to anyone, anywhere and any amount. The transaction cannot be controlled or prevented.
So you can transfers crypto to anywhere in the world. No matter the other user crypto wallet is located.
With cryptocurrency, you don’t need to wait a couple of days for your business to receive the money. cryptocurrencies are based on the blockchain technology.
It removes delays, payment of fees and a host of other third-party approval that might have been present.
In cryptocurrencies, you’re able to create an infinite number of wallets without reference. To the name, address or any other information.
Peer-to-Peer Cryptocurrency Network
Each client stores a record of all committed transactions and the number of crypto in each wallet. Transactions are made by hundreds of distributed servers. Neither banks taxes and governments can control the exchange of money between.
Disadvantages of Cryptocurrency
Large Risks of Investing in Cryptocurrency
When you mistakenly transfer money to someone by using cryptocurrency. There is no way that you can get the fund back. Crypto investments are involved high risk.
Because of its volatile nature and terrorist and other illegal activity financings, lack of a central issuer, which means that there is no legal formal entity to guaranty in case of any bankruptcy.
The major problem is that, you won’t know who wallet the money is transferred, then just forget about the money.
The digital technology, cryptocurrencies will be subject to cybersecurity breaches and may fall into the hands of hackers. We have already seen evidence of this. With multiple ICOs getting breached and costing investors hundreds of millions of dollars.
If the technology is perfect, And it gets rid of all the problems listed above. If the technology is adopted by federal governments and regulated. There will be an increased risk in investing in this technology.
The technology is mostly logistical in nature Like changing protocols. It becomes necessary as tech is being improved. This can take quite a long time and interrupt the normal flow of operations.
How to know legit cryptocurrency
Important success factor for any ICO and cryptocurrency, dependence on the developers and administrative team behind the project. The cryptocurrency space is dominated by major names.
With superstar developers like Ethereum founder Vitalik Buterin. Capable of making or breaking new projects simply by having their names listed on a development team. It’s increasingly common for scammers to invent fake founders and biographies for their projects.
A cryptocurrency whitepaper is a foundational document for that project. The whitepaper should lay out the background, goals, strategy, concerns, and timeline for implementation for any blockchain related project.
Whitepapers can be revealing
Companies that have a flashy website may reveal they lack a fundamentally sound concept. A company with a website containing spelling errors may have a whitepaper. That indicates a rock-solid concept and a carefully conceived implementation plan.
The idea of getting rich quick on an investment in a hot new project is tempting. Enough to draw seasoned investors and beginners into risky areas.
Keep an eye toward caution as you look for new investment opportunities, in the ICO and cryptocurrency spaces. Be aware that projects sounding too good to be true likely are.
Spend time scrutinizing every detail and assume that the absence of a piece of crucial information. May be an attempt to hide an unsound model or concept.
If you decide to invest in any cryptocurrency. You have to check first if the company CEO and the TEAM revile their self to the public. There will share the vision with there customers.
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Best crypto exchange or trading sites
These websites allow you to exchange or trade any cryptocurrency, that you want and make money from doing this trade.
What are the difference between Ico and Token?
What Are ICOs?
ICOs or Initial Coin Offerings are the basic crowd sales, which is the cryptocurrency version of crowdfunding. The ICOs have been truly revolutionary and have managed to accomplish amazing tasks.
How does an ICO work
A limited amount of tokens they are ensuring that the tokens itself have a value and the ICO has a goal to aim for. The tokens can either have a static pre-determined price. Or it may increase.
How Does a Token Gain Value
Helps in the equitable distribution of profits or other related financial benefits among investors in a particular project.