Crypto currencies have been gaining popularity with more and more people looking to use them. There are a number of different crypto currencies that you can use, but the most commonly known is Bitcoin. With the popularity of these currencies, it is important to understand how to start using them and whether or not it is easy to use them.
What Is Crypto Currency?
Before you can look at using cryptocurrency, you need to know what this is. As the name suggests, this is a form of currency, but it is not regulated and controlled like other currencies such as Dollars or Euros. These currencies are completely digital and use encryption techniques to generate the release.
When crypto currencies are used, the internet is used to guarantee and confirm any transactions. There is a network which verifies each transaction and this will become public record. The record is used to ensure that the digital currency or coin is not spent twice by the same person.
The record of the transactions is called a blockchain which is stored across a network. The distribution of the blockchain across the network is done to make it less susceptible to central failures and hacking. Each series of records is known as a block and once it has been verified is cannot be changed.