How to Become a Millionaire With Cryptocurrency

By Salomon King

Learn about:
What are cryptocurrencies
How to invest in cryptocurrencies and how to mine Bitcoin
Different types of Cryptocurrencies and their characteristics, Bitcoin, Ethereum, and other cryptocurrencies.
Where to buy and sell cryptocurrencies, wallets.
Blockchain technology. What exactly is a blockchain, how does it work, and why is it important? The basics of Bitcoins and Blockchains. Smart contracts and other important facets of blockchains and their role in the changing economy.
Operation of the cryptocurrency market

• Language: English
• Publisher: Salomon King
• Release date: Dec 30, 2021
• ISBN: 9798201208400

Book preview

How to become a Millionaire

with Cryptocurrencies

SALOMON KING

Introduction:

Technology continually changes, advances and we must adapt to it. That is why we must talk about Block chain technology, cryptocurrencies and the impact it will have in the near future.

In this technological advance, we can highlight the Block chain technology, on which some cryptocurrencies such as the well-known Bitcoin or Ethereum and Litecoin are based.

Cryptocurrencies can be used as a means of payment up to the possibility of investing or even trading with them. We see how more and more companies are beginning to accept these currencies as a means of payment, which makes the value and trust of these currencies increasing.

We are experiencing a very strong revaluation of the most important currencies; some analysts even brand these currencies as safe havens to diversify our investments in a situation of high uncertainty. Before investing or using these currencies, whose price is usually highly variable (volatile), we must know what technology they are based on, why they are being accepted in companies, what economic impact they may have, the security they have. 

What are cryptocurrencies?

Cryptocurrencies are the money of the future, a digital money where a centralized system is not used, a peer-to-peer system is used with thousands of anonymous nodes that verify the transaction, thus avoiding 90% of the cost and increasing the speed of operations, with the ability to carry out transactions in seconds, regardless of the recipient and regardless of their location.

A virtual currency, which uses cryptographic technology to ensure the veracity of transactions.

Being considered as virtual currency, it becomes a consumable item, difficult to counterfeit, portable, transferable and stable, a cryptocurrency is intangible, you cannot touch or see it, it is totally digital money that is based on cryptography, it is a whole series Of codes that make it totally secure, cryptocurrencies, unlike other currencies, do not have a bank through which to certify transactions, they are decentralized and gives you total control, they depend on supply and demand, the more people are interested in cryptocurrencies, the more their value increases.

Cryptocurrencies are a digital medium of exchange. They can be traded and traded like any other traditional currency.

A vast majority of these cryptocurrencies use a technology called Block chain. (Teams / nodes that share a ledger where each operation is updated in all nodes).

Currently the cryptocurrency market has a total capital of more than 93 billion dollars with an average of daily transactions of 1.8 billion, marked by exponential growth in recent years.

Its use can be purely economic, as if they were euros or any other fiat currency, for example this is Bitcoin or Ether, they can have an application as an investment in a company or project, where the currency appreciates or devalues ​​depending on the total capital that supports the project, its initial coin launch offer is called ICO and there are currently around 800 different cryptocurrencies where the predominance of bitcoin over the rest is around 40%. And in other cases, cryptocurrencies can be used for a mere exchange of goods and services, such as a digital barter.

WHY THIS BOOM OF CRYPTOCURRENCIES AND WHAT IS EXPECTED