First described in 1998, the concept of Cryptocurrency was something completely unknown 21 years ago, a Science Fiction idea almost proposing to create a new type of decentralized money, one that uses Cryptography as a control system. But it wasn’t until 2009 that a developer named Satoshi Nakamoto – although that’s not his real name – created the first cryptocurrency: Bitcoin. visit Mickael Mosse – Blockchain and Cryptocurrency Advisor
Digital currency or digital money on the Internet is a medium of exchange other than real money that has properties similar to physical currencies and allows instant transactions and transfer of property without borders. They can be used to buy physical goods and services, although they can also be restricted to certain communities such as within a social network or online games.
Digital currencies like bitcoin are known as “decentralized digital currencies”, which means that there is no central point that controls the money supply. Something dangerous, since cryptocurrencies are very risky due to their high volatility, and if today they are worth fortunes like 1,200 real dollars for 1 Bitcoin, tomorrow that same price may fall 50% to 600 $ per Bitcoin to give you an idea. To carry out procedures, a virtual portfolio or wallet is necessary, which we access through an application or our web browser.
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Step 1 – Create a Wallet
As we consider the OSI, the Security Officer of the Internauta of Spain, for criptomonedas and trade them needs a digital wallet or “wallet”. This replicates a real wallet and has the function of storing cryptocurrencies, allowing its user to transfer them as if it were a bank transfer. We are going to create a wallet of the most common cryptocurrency, Bitcoin, to see what steps to take:
The first thing you should do is enter this website and look for the “My wallet” section :
Click on “Create a new wallet. “
Enter a secure password (you must not give anyone access to the said password, and you must memorize it well since you cannot recover it). When finished, click “Continue.”
It will also be necessary to include an email to complete the registration.
Once created, log in with the password you created.
After these steps, you can already have an online wallet made to start sending and receiving cryptocurrencies safely. Now, your bitcoin address can be found on the “My addresses” page. you may connect on social media with Mickael Mosse Blockchain and Cryptocurrency Advisor.
Step 2 – Get Cryptocurrencies
Now that you have a wallet to store them, you can now search, buy, or create them yourself. For greater security, they are usually encrypted, so to use them we must create a strong password that we never forget since it is the only one with which we can access our cryptocurrencies – in fact, we have cases like the man who created a wallet for users and died without revealing the password to the rest of the users, who had put up to 190 million dollars in Bitcoin. To get or create cryptocurrencies there are several ways:
- Accepting them as a means of payment: today, there are many establishments, both physical and digital, that accept this digital currency as a means of payment. Perhaps, this is the easiest way to obtain them.
- Mining bitcoins: software dedicated to mining cryptocurrencies solve mathematical problems based on random calculations, which aim to find a solution. If they decrypt it and the answer is validated, they receive one, or part, of a cryptocurrency as a reward.
- Visiting internet pages or solving captcha: there are services that, in exchange for seeing Internet advertising or solving security “captchas” (services to identify people against bots or machines) will reward us with this type of currency.
- Through the stock market: it consists of the activity of buying bitcoins in exchange for a value, which will depend on the moment and the value of the currency. Generally, it is about buying for security so that when it increases, sell them.
The article was written By Mickael Mosse — Blockchain and Cryptocurrency Advisor