Cryptocurrencies are digital money that does not depend on government or bank regulation. Instead, all the transaction processes are executed through a complex encryption mechanism. Crypto assets do not have any physical form, they exist online, and every transaction is recorded in a public ledger.
Cryptocurrencies can be transferred worldwide without intermediaries. At the same time, transaction safety is ensured.
The first known crypto is Bitcoin. The launch of BTC spurred the development of the whole crypto market.
Crypto coin price depends on some factors:
- The complexity of receiving coins
- The external situation in the global economy
- Local states regulations
- News background.
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How Does Cryptocurrency Work?
Blockchain is the foundation for all crypto assets. All transactions made by crypto holders are recorded in a blockchain.
Every crypto coin is received through mining. Mining is the way to create a new coin based on the “Proof-Of-Work” protocol, which implies using powerful equipment for solving complex math tasks. By solving them, they generate every crypto coin. Miners are spread worldwide. For every new block generated, miners receive rewards. That was the way how coins are received.
If you want to buy a digital asset, you can do it on a crypto exchange. For example, WhiteBIT, Binance, and Coinbase. These services operate legally and provide a wide range of digital assets at average cryptocurrency prices.
When buying crypto or swapping, users pay a fee. Every exchange proposes its own fee policy. The average fee in the market for swaps is 0,1%.
What Cryptocurrency To Buy in 2022?
Some promising projects stand out from the crowd: Solana (SOL), Cardano (ADA), Binance Coin (BNB), and Ripple (XRP). All of them are traded on major crypto platforms. Before investing, we recommend analysing a project because crypto investments are risky, and price fluctuations are typical for this market.