What is a cryptocurrency?
Cryptocurrency is digital money, a virtual investment asset and a modern means of payment, the operation of which is usually based on a distributed ledger system.
Usually, because in the cryptocurrency market we have over 10,000 different projects representing different visions of the future, different philosophies and wildly different functionalities. Not every cryptocurrency is based on a traditional distributed or decentralized ledger system – like Bitcoin or Ethereum.
In the cryptocurrency market, we also have projects like IOTA, which, instead of being based on the block chain, base their functionality on the DAG or Directed Acyclic Graph. While the blockchain of cryptocurrencies, such as Bitcoin, has nodes that verify user transactions, IOTA and its DAG presented a completely different function – each new transaction must confirm two previous transactions The aforementioned solution has the potential for huge scalability – once DAG technology is mastered by developers, it is very likely that cryptocurrencies based on this solution will be able to surpass the functionality of VISA cards, which have the ability to handle 65,000 transactions per second
What are cryptocurrencies used for?
You’ve probably heard somewhere that cryptocurrencies offer instant, anonymous and secure transactions that take the same amount of time to complete, no matter how far apart your wallets are.
Where the aforementioned VISA handles up to 65,000 transactions per second (TPS), Bitcoin will handle a maximum of 7 TPS.
Ethereum? Not much better – 45 TPS.
The best performer at the moment is Ripple, which has the ability to manage up to 1,500 TPS, depending on the data. Although cryptocurrencies will definitely dominate the payments space, we will still have to wait for that to happen. The most likely solution will be DAG and scalability with the number of transactions on the network, which IOTA offers for example.
Why is scalability a problem for older cryptocurrencies?
At a time when the main marketing slogan for cryptocurrencies is instant payments, at higher volumes this asset is completely marginalized. Boom times often mean very slow and expensive transfers to Bitcoin – with high demand, the fee for miners can be as high as $20 per transaction.
its smaller footprint is less crowded than Bitcoin’s network, making them transactions much cheaper and much faster.
Applications of cryptocurrencies:
Cryptocurrencies are a large store of value – at this point you can’t generalize of course, not every cryptocurrency holds its value as well as gold. At the moment, the most popular cryptocurrency used to store value is Bitcoin, which, despite gigantic increases and drastic decreases, has been gaining value for a long time.
Long and short term investments – rapid price changes are a plus for many investors. However, many of them treat the cryptocurrency market like roulette – buying crypto currencies, without prior analysis and research, based only on the hope of increases is not always a good solution. Nevertheless, many investors decide to make such moves, executing many short-term buying and selling actions.
Make anonymous transactions – anonymity is a huge and powerful magnet. So far, this factor alone has attracted millions of investors and users to cryptocurrencies, but are cryptocurrencies really fully anonymous? Well – not exactly. despite knowing the address or public key, we do not know the identity of the user behind the 160-bit alphanumeric string.
Access to funds from around the world – depending on the type of cryptocurrency wallet the user uses, they can gain equal access to their assets anywhere in the world. If the user has a hot wallet – dedicated to the browser or a cryptocurrency exchange, he can access his funds literally anywhere in the world – the only
Cryptocurrencies will buy you a Lambo! (Soon maybe a Tesla too…) – in 2017, when there were many crypto-gods in the world, there was an offer on DeLouvois that allowed you to buy a Lamborghini Aventador SV with Bitcoins! This opportunity has become a real meme-legend among cryptocurrency investors, so don’t be surprised if you hear one day in this environment – it’s not much Lambo anymore! In 2021, the ability to buy a Tesla with Bitcoins appeared temporarily. The payment was unfortunately quickly withdrawn, but despite the temporary difficulties, rumors of a possible return of Tesla to Bitcoin have resurfaced!
How to buy cryptocurrency in Poland?
To buy cryptocurrencies in Poland, you need to choose the right platform that will allow you to register immediately and buy cryptocurrencies even faster.
In Poland, the easiest way to buy cryptocurrencies is at Egera – a cryptocurrency exchange and bureau – which allows you to register in 3 minutes and buy cryptocurrencies in less than 30 seconds.
How to buy cryptocurrency for PLN?
The easiest way to buy cryptocurrency for zlotys is to join Egera. All cryptocurrencies available on our platform are available in pairs with gold, which means you can withdraw money from our platform to your bank account at any time!
The first step is to find the right platform – you already have, because you are at Egera.
The next step is direct registration, during which the platform will ask you for basic information and identity verification, which is required by Polish and European legislation.
Now all you have to do is deposit the money – you can do this by bank card, traditional transfer and direct transfer.
At this point you are ready to buy cryptocurrency – choose which cryptocurrency you want to buy and exchange your money.
In the ranking of cryptocurrencies, the turnover is huge – projects that were in the top ten a year or two earlier, can fall down the rankings in an instant. For this reason, before investing in cryptocurrencies, you should do a thorough research on which cryptocurrencies have the greatest technological potential and price potential. By investing with composure and backing your buying decisions with analysis, you are sure to greatly increase your chances.
The average investor has a 50% chance of investment success, and as practice shows – the chances are successively reduced by the investors themselves – reacting to small price changes, abandoning the predetermined investment strategy and expecting higher returns than expected, lead most times at a loss.
You will read about successful investing later in this article.
Bitcoin – how to start investing in BTC?
Bitcoin is regarded as the most stable cryptocurrency – no wonder – we can observe the trajectory of Bitcoin since 2009. Despite its departure from the main function envisioned by its creator – Satoshi Nakamoto – namely payments, bitcoin is still it proves to be a means of storing value over time