Sirwin
Sirwin
Photo by Gabby K from Pexels

What Is Crypto?


Crypto is getting more eyes then ever and much like learning a whole new subject or language I am here to show you not how it will be the cure of all your ills, because it won't but. It is a growing market, and I am going to go over some of the ins and outs I find on my way and hopefully get you to be more comfortable as well.

Some people are confused by what crypto's even are and what the world around it even is. Take a bill out of your wallet, dollar, pound, yen, whatever it is. What you have is a means of exchange executed on the will of a government whose value is dictated by the markets around it. Different currencies are defined by as much a country as the process of a mathematical algorithm or a mathematical procedure. Instead of countries the mathematical processes that build these cryptos are different both are based on the value being exchanged and used as well as mined, that we find the value.

Mining is something altogether new to currency it is something where you let a rig or a GPU (graphical processing unit) come together to solve the mathematical processes of the cryptocurrency and award yourself a piece of it. They are held in wallet programs and hard wallets by way of addresses. Each of these wallet receptacles are like the lanes on a road that crypto goes to and from locations on. In your crypto wallet, you will have an address to send and one to receive for each different currency it supports and they will all be different adding to the difficulty of someone trying to hack in to it and what not.

There are hardware wallets and software wallets, software is used for ease and hardware for security. Software wallets are often free and hardware you need to buy because it is an actual physical device and the reason you may want to go that route is because as a hardware wallet you can disconnect it from the computer and make it almost difficult. We will go in to those next time, but I hope that these articles will be something to help you feel more comfortable in the world of crypto.

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MrBigTAnderson
MrBigTAnderson

Learning about the ins and outs of the cryptosphere and asking you to come learn with me as we try to make our slice of it.


Crypto Basics and Beyond
Crypto Basics and Beyond

Going step by step from the basics to the nuance, the gear, and the grind so any one reading can feel comfortable enough to further learn and navigate in the growing market.

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