Attention!!!
Can someone educate me about crypto currencies. What are they?
How do they work?
How do you buy them?
How do you transfer them?
How do you trade them for cash?
Does their value fluctuate like traditional currencies?
Are their any risk to owning them?
Is there a fraud risk?
- A cryptocurrency is another form of digital currency which uses cryptography to secure and verify transactions and to manage and control the creation of new currency units.
Source-How do cryptocurrencies work? Cryptocurrencies use decentralised technology to let users make secure payments and store money without the need to use their name or go through a bank. They run on a distributed public ledger called blockchain, which is a record of all transactions updated and held by currency holders.
Source-How to buy? neither do P2P or you can in exchangers. Same goes on how you would make out some conversion to fiat.
-When it comes to fluctuation then volatility level is way too far off with those fiat which is one if the biggest differences between them.
-Risk? Of course, since prices are moving in wide ranges then you can neither gain or lost up money in a short time.
-Scam is everywhere thats why only stick out into those top alts into the market and of course Bitcoin should be prioritized.