1 / 4

What is cryptocurrency and how does it work

Cryptocurrency is a digital payment mechanism that does not rely on banks for transaction verification. It's a peer-to-peer system that allows anyone to make and receive payments from anywhere. Cryptocurrency payments exist solely as digital entries to an online database identifying specific transactions, rather than as tangible money carried around and exchanged in the real world. The transactions that you make with cryptocurrency funds are recorded in a public ledger. Digital wallets are used to store cryptocurrency.

Ruchi4
Download Presentation

What is cryptocurrency and how does it work

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What is cryptocurrency and how does it work?

  2. What is cryptocurrency?Cryptocurrency is a digital payment mechanism that does not rely on banks for transaction verification. It's a peer-to-peer system that allows anyone to make and receive payments from anywhere. Cryptocurrency payments exist solely as digital entries to an online database identifying specific transactions, rather than as tangible money carried around and exchanged in the real world. The transactions that you make with cryptocurrency funds are recorded in a public ledger. Digital wallets are used to store cryptocurrency. The moniker "cryptocurrency" comes from the fact that it uses encryption to verify transactions. This means that storing and sending cryptocurrency data between wallets and to public ledgers requires complex coding. Encryption's goal is to ensure security and safety.How does cryptocurrency work?Cryptocurrencies are based on the blockchain, a distributed public database that keeps track of all transactions and is updated by currency holders. Cryptocurrency units are formed through a process known as mining, which entails employing computer processing power to solve complex mathematical problems in order to earn coins. Users can also purchase the currencies from brokers, which they can then store and spend using encrypted wallets. You don't possess anything concrete if you own cryptocurrency. What you possess is a key that enables you to transfer a record or a unit of measurement from one person to another without the involvement of a trustworthy third party. Although Bitcoin has been present since 2009, cryptocurrencies and blockchain technologies are still in their infancy in terms of financial applications, with more to come in the future. Bonds, stocks, and other financial assets might all be traded via the technology in the future.

  3. So, if you believe you have the spark to decide your future and write it, rejoice, because your search for doing business in the UAE has come to an end right here. Please take advantage of the FREE consultation services offered by reputable, experienced, and knowledgeable business setup consultants of HBF Direct Limited. For more information on business setup inquiries, please visit https://www.hbfdirect.com/ or call +91 9971-337-447 or email info@hbfdirect.com.

  4. THANKYOU!

More Related