A cryptocurrency, or a crypto currency, is a digital asset designed to be a medium of exchange. That uses cryptography to guarantee transactions To control the creation of additional currency And to confirm the accuracy of the transfer of property It is a form of digital currency, alternative currency and virtual currency. It is decentralized money. Against a centralized cryptocurrency Or with the central banking system Decentralized control is done through the blockchain. Which is a public transaction database Using it as a distributed ledger
Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then There are also many other cryptocurrencies created. These currencies are often referred to in English as altcoins, as a combination of alternative coins.
When it comes to many Bitcoin names right now, hardly anyone knows or has heard of it. But if you say the word cryptocurrency Or that cryptocurrency Some people may not be very familiar. Or maybe you will remember to confuse Bitcoin and cryptocurrency? Or even more serious, it could be deceived by a group of prosecutors to invest in what they say is a bitcoin-like coin, even though that investment is not involved. cryptocurrency Even a little
You’d better invest Cryptocurrency only when
- You have an understanding of the technology that backs it. Including basic usage
- You believe that Blockchain technology will replace traditional centralized trust.
- You have cold money that you didn’t borrow. And this evening money, you can afford to lose it without much regret.
- You know some basic economics.
- You have a feeling of thirst I would like to learn something new such as technical analysis.
- You begin to explain the technology to your friends or family.
- You can distinguish that cryptocurrency With the other popular cryptocurrency exchange chains, it is a different story and a different person.
- You have accomplished step 7, and you are not investing in those shares.
- You are steadfast I am not keen on the volatile price conditions in the market. And follow the investment plan set until that plan is accomplished.
- You study until you know that you should choose to invest in coins. cryptocurrency Which one in the market for yourself Do not flock to buy according to the villagers until they turn themselves into moths.
But if you think about the fact that The above sentence may have shaken many veteran crypto investors. Because for choosing to study profitability only without studying the origin. And the core behind that drives Cryptocurrency It is considered not only going to make you broke in a short time only. But may make you hate this industry at all (Because it makes you insolvent)
Cryptocurrency Or if translated directly into Thai, it is “Encrypted currency” is a play of two words: cryptography and currency together. That means that Bitcoin, Ethereum, Litecoin that you hear your friends or on TV talking to, is intangible. And intangible Which it will work secretly on the computer All you will be able to see is only the numbers.
If to talk about the currency Let’s go back to the basics of spending money first.
Imagine if you were to buy just one cup of coffee with normal cash. All you do is simply take out a pocketbook of money that has a value on it. (How many baht) and hand it to the coffee seller Before the kind barista hand over the coffee to you and receives your money.
The problem with cash is nowadays. It has been changed hands a hundred or a thousand times. And no one is able to know that the banknotes in their hands, they have been through some. This makes it impossible to track and track transactions for cash.
Digital currency was invented to solve this problem. Which the difference is Cryptocurrencies are created in digital form only. Intangible So let’s just imagine that we scan a five euro banknote into a computer file. And name it ‘five-euros.jpg’ which when it was converted to cryptocurrency It will have many advantages. But there are also disadvantages as well For example, these cryptocurrency files can be copied and pasted indefinitely, and they can’t differentiate real money and cryptocurrencies.
Cryptocurrency Abbreviations Popular for trading
BCH Bitcoin Cash
BNB Binance Coin