One of the most popular classifications offers the following types of cryptocurrencies:

Currencies Coin

The largest share of all cryptocurrencies belongs to this type – monetary systems that allow the exchange of sums of money. They are most often called “coins”. They can be used to buy goods and services like regular money, but with decentralization, anonymity and ease of use.

Two examples of extremely popular blockchain coins are:

Bitcoin:

• the first and most popular cryptocurrency;
• can be used to buy anything in the virtual space;
• uses immutable blockchain technology to prevent “double spending” and fraudulent transactions;
• limited emission effectively prevents inflation.

Litecoin:

• appeared as the first fork of Bitcoin;
• allows for quick transactions with low commission fees;
• uses the Scrypt mining algorithm, which is more resistant to ASICs;
• is considered one of the most convenient options on the market.

Platform Coins

A quote from one blockchain investor: “During the gold rush, the shovel makers made the most.”

The idea is that perhaps the best strategy is to invest in tools that cryptocurrency users cannot live without. In this case, cryptocurrency exchanges, exchangers and platforms for developers are considered “shovel makers”. Let’s stop at the last ones.

During the market crisis, we sadly look at the wreckage of the crumbling ships, but against their background, it is the platforms that look the most reliable and confident. The crypto platform is a network based on Blockchain technology that allows software developers to write smart contracts. Smart contracts are programs that automatically control the transfer of funds between two or more parties based on specified conditions.

Platforms are the closest to this type of system. The most famous platform coin is Ethereum. In recent years, the exchange rates of many similar currencies have risen significantly. Why do people like to invest in them so much?

The main answer is versatility, multi-purpose orientation. People can create various services and applications on the basis of these platforms, thereby achieving an almost unlimited number of usage options. When investing in infrastructure, a person is sure that he is not investing in a marketing trap, but in real innovations.

Cryptocurrency Exchanges

Recently, a large number of cryptocurrency exchanges have released their own coins to increase the liquidity of other coins within the platform and help less popular coins to trade better. After all, if it is not possible to sell a coin for any other, but investors are not inclined to take risks by buying it. But if the exchange guarantees that you will always be able to sell this coin for the exchange token, then the risk is significantly reduced.

Although the main purpose of the emergence of such tokens is to facilitate trading on the stock exchange (including saving on commissions), over time, and this is not surprising, the coins have become independent investment objects. The fact is that they have guaranteed liquidity and the support of large and reliable organizations – stock exchanges.

Such coins also have a drawback: it is unlikely that their value will ever increase significantly. It is doubtful that you will see them as a popular means of payment in some stores. In addition, binding to a specific site means close dependence on the position of this site. Did the exchange collapse under a hacker attack? At the same moment, her tokens will fall.

In general, exchange token rates will most likely follow the general direction of the market. There are quite a lot of people entering the cryptocurrency world, which means that more and more people are using exchanges, getting the opportunity to use tokens in the process of transferring funds from one coin to another.

To date, the tokens of the KuCoin, Binance, and Huobi exchanges are particularly well-known.

Utility Tokens

In a different way, such toxins are called AppCoins, because they are closely related to the usefulness of one or another decentralized application under which the team opens an ICO. Almost all such “useful” tokens have a limited issue, and after the ICO, the team tries to further promote it as an investment option, since the price of the token will naturally increase if the application becomes popular.

But this tactic is now under the watchful eye of the US Securities and Exchange Commission, so you need to be well versed in economics to work with it.

Security Tokens

“Security Tokens” are issued to investors during the ICO. On their basis, dividends are paid, profit is shared; they can also be invested in other assets. In a number of countries (for example, the USA) such currencies are prohibited.

However, not everyone knew about this – some companies on the wave of euphoria from blockchain startups issued such tokens, as a result of which they were subjected to persecution by the US SEC.

In order not to get into the same situation, developers should remember the so-called “Howie test”, developed in the first half of the last century. Therefore, a token is considered a security if it means:

• investing money
• … into a joint venture
• … with the expectation of profit
• …with the participation of the efforts of outsiders.

All four conditions must be met at the same time. The SEC is generally not against ICOs, but this commission will closely monitor their regulation.

Crypto Commodities

Crypto Commodities is a general term used to describe a tradable or exchangeable asset that can represent a good, function or contract in the real or virtual world using special coins.

For example, an app developer can use tokens to pay for hosting, or a user can pay to watch online content on a blockchain platform. A trader can use them to execute transactions, and tokens can be used to virtually support real contracts.

One recent and very popular application for such crypto-goods was the CryptoKitties game on the Ethereum network, which allowed people to use Ethereum to trade and breed virtual kitties using smart contracts. The more unique a cat was born, the higher its value.

Essentially, any platform that offers a tradable or exchangeable asset that provides access to value, services, or functions on the blockchain network through the use of unique tokens is a crypto-commodity ecosystem. The mechanism of self-regulation and fair transactions in Crypto Commodities is ensured by linking the rules of token valuation and contract operation through programmable code in the form of smart contracts of decentralized applications.

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The digital currency is currently breaking all popularity records. As a result, many different types of digital currencies have emerged. It is no surprise that online casino cryptocurrencies are increasingly found online Cryptocurrency was created in 2009 by Satoshi Nakamoto. It is now an unprecedented novelty in the financial market and is in huge demand. Cryptocurrencies are quite interesting, and we will now take a closer look at them.

Choosing online casino with cryptocurrencies – what to look for?

Before selecting a cryptocurrency casino, it is advisable to check the following:

• availability of an appropriate license;
• availability of an app or mobile version;
• the casino’s reputation in the gambling market;
• the games offered by the cryptocurrency casino;
• digital currencies accepted by the operator;
• speed of payments and withdrawals;
• the prizes located in the palette of the site;
• The languages and currencies of the gambling site.

It is also worth testing the bitcoin casino for yourself. To this end, free games are a good solution. This allows you to practice your own skills without any risk. Below we also describe the important criteria for choosing a cryptocurrency casino.

Currency casino license

Modern gaming sites are well protected and subject to a number of checks that assess platform integrity and performance. To protect yourself from registering with a fraudulent online casino, you should always check its license. Paid online casinos are licensed and regulated by the relevant authorities. The home page of the site should have information confirming that the site is licensed. If your gaming operator is approved by the relevant regulatory bodies such as the MGA, the UK Gambling Commission or Gibraltar then we have nothing to worry about. A license from these bodies is a factor in the integrity of a gambling venue. In the case of rogue gambling portals, players may have trouble claiming their rights or getting their winnings back. We are more protected when playing on licensed sites. After learning more about cryptocurrencies, you can try to play online and get your bonus, more information about bonuses can be found on our page – online casino bonus.

Cryptocurrency casino rules and restrictions

It pays to ensure that the virtual gaming establishment we are about to register an account with accepts users from the country in which we are residing. Rules and restrictions may also apply to currencies that the selected casino accepts.

The speed of payments and the guarantee of anonymity also deserve attention. It should be noted that the withdrawal of winnings in digital currency from the account of the virtual gaming establishment can only be made to a special electronic wallet. We are unable to transfer cryptocurrency winnings from the online casino to a bank account or credit card.

Multigamblo gaming enthusiasts highlighted several advantages of playing at casinos that accept bitcoins or other digital currencies:

➔ Transfer speed.

➔ Low fees.

➔ Ability to send small amounts of money.

➔ Confidentiality and security of transactions.

➔ Independence from banking institutions and the government.

Payment to the casino can be made for a small amount of money. This is a very interesting option for players who don’t play for high stakes. In this case, bettors can rejoice at the money they win, even if the amounts are small.

Variety of cryptocurrencies

Before talking about the types of digital currency, it is worth explaining what cryptocurrency is. It is a cryptography-based accounting system that stores data in contractual units. The most popular cryptocurrencies are cryptocurrencies: Bitcoin, Ethereum, Tetcher, Binance Coin, EOS, Litecoin, NEM, Nano, Dogecoin and many others.

The use of digital currency in casinos is not complicated and does not require any special knowledge from users. The main advantage of cryptocurrency is the inability of banks or tax authorities to control or influence this payment system. However, it is worth remembering that the digital currency can depreciate, which is a high risk.

The variety of cryptocurrencies is also a very important factor when choosing a cryptocurrency casino. Before creating an account on your chosen site, it’s worth checking what types of digital currency the game operator accepts. Currently, every legitimate online casino that decides to introduce virtual currency is successful and in great demand.

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5 Top Decentralized Exchanges Right Now

Decentralized exchanges (DEXs) are increasingly prevalent because they provide a secure and reliable way to trade digital assets. They are top decentralized exchanges because they offer many attributes and services that help traders make informed decisions and maximize profits. DEXs supply an additionally protected environment than centralized exchanges, as users are not required to submit personal information. Additionally, DEXs are more transparent, as all transactions are visible on the blockchain. Furthermore, DEXs have low fees, fast transaction times, and minimal risk of hacking. All these features make them an excellent choice for traders looking for a secure and reliable way to trade digital assets.

1. Dexilon

2. PancakeSwap

3. Uniswap

4. Curve Finance

5. dYdX

1. Dexilon is the best decentralized crypto exchange on the market.

It proposes a secure, quick, and easy way to trade crypto assets. With the help of a decentralized platform, users can conduct peer-to-peer transactions without needing a third-party intermediary. The platform also provides many features, such as advanced charting tools, access to liquidity providers, and integrated wallets. Furthermore, Dexilon delivers a user-friendly interface that makes trading on the platform easy and convenient. All in all, Dexilon is an excellent option for a decentralized crypto exchange.

2. PancakeSwap is the best decentralized bitcoin exchange in the cryptocurrency space

With an intuitive interface and an easy-to-use platform, PancakeSwap permits users to securely exchange Bitcoin with one another without the need for a third party or middleman. The exchange is powered by liquidity pools, allowing users to buy and sell Bitcoin at the best prices. PancakeSwap also enables users to earn passive income through yield farming and the PancakeSwap loyalty program. PancakeSwap is the best decentralized bitcoin exchange with its low fees, safety, and advanced features.

3. Uniswap is the best decentralized cryptocurrency exchange for purchasing and selling digital assets

Its decentralized exchange protocol enables users to trade Ethereum-based tokens without needing a centralized third party. Uniswap is a trustless, permissionless, and non-custodial protocol allowing users to trade tokens without risk. It is easy to operate and provides the best prices for Ethereum tokens, making it one of the most popular decentralized cryptocurrency exchanges. Uniswap is secure, reliable, and highly private, making it the best choice for buying and selling digital assets.

4. Curve Finance is the best DEX crypto exchange for earning high yields on crypto assets

Curve offers various products, including stablecoin pools, yield farming, and other trading options. Kindness is a decentralized exchange built on Ethereum designed to provide cryptocurrency users with the most suitable liquidity and lower fees. Curve users can access high-yield possibilities with stablecoins, tokens, and other digital assets. The curve is an excellent way for crypto investors to maximize returns and hedge against volatility.

5. dYdX is the best decentralized exchange to buy crypto

It is a secure and reliable platform for users to trade digital assets with low fees and no counterparty risk. The platform offers various features, including margin trading, limit orders, and advanced order types. The dYdX team has developed innovative contract protocols allowing high-speed, secured, and dependable transactions.

Best Decentralized Cryptocurrency Exchanges

The best decentralized cryptocurrency exchanges (DEX) provide users with unparalleled security and privacy. Using a DEX, users can exchange cryptocurrencies without trusting a centralized third party. Furthermore, the best crypto futures trading platforms offer a wide range of features, such as buying and selling cryptocurrencies with different users, various trading pairs, and low fees. Besides, they are often open-source, allowing users to inspect the code and verify its security. This makes them ideal for those seeking a safe and efficient way to trade their cryptocurrencies.

Best Dex Crypto Exchanges

The best dex exchanges offer a secure way to trade digital assets without a centralized third party. These exchanges permit users to change directly from their wallets, making it easier to control their funds. The best businesses offer many attributes, including low fees, high liquidity, and robust security protocols. They also provide access to diverse coins, tokens, and other digital assets, allowing users to diversify their portfolios. With the proper DEX exchange, users can trade confidently, understanding that their funds are secure and their transactions are transparent.

FAQ

What Is The Decentralized Exchange (DEX)?

A decentralized exchange (DEX) is a decentralized cryptocurrency exchange without a central authority. Instead of a central server or entity controlling the business, the users of the exchange hold and manage their funds, and all transfers of budgets are executed directly between users of the exchange. This means that the conversation is trustless and secure, and users do not need to trust a third party to ensure the security of their funds.

Is It Safe To Use Decentralized Exchange?

Yes, it is secure to use a decentralized exchange as long as you take the necessary steps to protect yourself. As with any online financial activity, it is essential to use strong passwords, two-factor authentication, and other security measures. Additionally, it is important to use reputable exchanges and research the projects and tokens listed is essential.

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You may not have thought about it, but bitcoin’s code gives it the features of traditional paper currency, including scarcity, divisibility, portability, interchangeability, and recognizability. In addition, bitcoin is decentralized and can be used without intermediaries, provides some level of transparency, can be accessed and used by anyone with an Internet connection, cannot be counterfeited or confiscated, and has other features such as programmability. Most importantly, it can be used as a means of savings like gold, but unlike its physical counterpart, bitcoin can be transported from one end of the world to the other over communication channels in minutes.

Bitcoin’s valuable properties
Bitcoin’s scarcity. Unlike traditional paper currencies, which can be printed indefinitely, bitcoin has introduced a digital deficit. Only 21 million BTC can exist. Whereas paper currencies are subject to annual inflation and lose some of their value, bitcoin inflation is limited and controlled. In addition, you have to consider that some bitcoins have been lost forever (sent to wrong, non-existent addresses or to wallets whose keys have been lost, etc.), which means that there will be fewer and fewer bitcoins.

Divisibility. One bitcoin can be divided into 100000000 satoshis. One Satoshi equals 0.00000001 BTK, the smallest bitcoin unit at the moment. This level of division is built into the original bitcoin code. The division level can be changed to 16 decimal places or more if necessary, meaning that bitcoin offers infinite divisibility.

Mobility. Bitcoin can be transferred via the Internet, satellites, or even radio waves, making it the most transferable currency ever.

Bitcoin is the most “moveable” asset ever created.
Equality. Every bitcoin has the same value no matter who owns it or what its history is. Just like one ounce of pure gold is always equal to another ounce of pure gold.

Longevity. Any bitcoin or satoshi is reusable.

Recognizability. A growing number of merchants and users recognize and accept bitcoins. Although it is still far from the level of acceptance of paper currencies, many people distinguish bitcoin from non-currencies or other counterfeit money and are willing to accept it as a means of payment.

Decentralization. No one controls bitcoin. Unlike traditional money, the binkoin network and its transactions are not censored, controlled, or altered.

Accessibility. You don’t need to have a verified bank account to own or receive bitcoins. All you need is basic computer knowledge and an internet connection. Bitcoin’s accessibility makes it extremely convenient for regions with not enough banks.

Impossibility of counterfeiting. Every bitcoin transaction is recorded in a distributed ledger. The system was designed to prevent the problem of double spending. As a result, all transactions on the bitcoin network are uncontrolled and irrevocable.

Programmability. This means that in the future bitcoin will be able to receive updates and have even more convenient features such as smart contracts, multi-valued transactions and others.

Stability and value retention. The one parameter that bitcoin still lacks is price stability. Because of volatility, bitcoin is used more like a commodity (like gold, for example). However, this may change when bitcoin becomes widespread and there is less incentive to speculate. Bitcoin is expected to remain volatile until cryptocurrencies become widespread.

Features of bitcoin compared to other currencies.
The most important reason for bitcoin’s current value is that people want to use it to pay for goods and services, store money, or even speculate. The more the network of bitcoin users and sellers grows, and the more secure and advanced the system becomes, the greater the dollar value of bitcoin may be.

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Due to the growing popularity of cryptocurrencies, many modern platforms and financial services actively develop various cooperation programs. One of the most attractive segments of activity for them is purse replenishment. After all, this allows systems to get a good commission, as well as on favorable terms to attract a large number of customers for both replenishment and other operations.

It is worth noting that to date, among users were formed 9 most popular ways of recharging. However, everyone decides for himself what he chooses.

Through the exchange
One of the most popular ways associated with bitcoins is their earnings. Accordingly, quite a large number of miners or just advanced users refill their wallets in this way. In addition, you can exchange other finances, earned on the Internet, for bitcoins.

This method is considered one of the cheapest, because there is almost no commission. The essence of this deposit can be expressed in a few words – the transaction between the participants of the exchange. Of course, there is one disadvantage – the long time it takes to perform the operation, but it will be completely safe.

Exchange services
Any electronic currency, including Bitcoins, can be purchased with an ordinary bank card of well known payment systems. For such transactions, it is optimal to use special exchangers working in the network.

Card number and information about its owner.
As a rule, most services asks to enter phone number and e-mail for verification. After the successful verification the client is redirected to the last line of the depositing, where they often ask for a confirmation code. It takes from 15 minutes to 24 hours to credit the wallet.

Direct deposit
The so called direct deposit method is not very well known and widespread yet. This is quite explained by the fact that most financial institutions began to implement it only in 2017. Now users can use direct replenishment of accounts denominated in BTC with the help of Blockchain service.

Through a terminal
Quite a large number of users dream of the moment when bitcoins can be bought through a terminal.

In what case can not be recharged?
Replenishing of a purse of electronic currencies though the process is not from the simplest, but at correct observance of all formalities means stably get on the budget. However, quite often, clients have difficulties with the enrollment. This may be due to the following factors:

Insufficient funds in the wallet.
Exceeding the limit of online card transactions.
Not passing the due verification in the system.
Exceeding the exchange limit.
Cheating by the exchanger.

Of course, each of these factors is unpleasant in its own way, but if in the first 4 cases only the transaction fails, then in the last one the money can disappear without a trace.

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Characteristics of Money
Throughout history, money has taken many forms. There has been barter, objects such as stones or shells, precious metals, banknotes, paper bills, digital money, and finally decentralized digital currencies such as bitcoin.

Over time, people have identified the most desirable traits that money should have. For a currency to be useful and convenient, it must be:

Divisible – can be divided into smaller pieces for certain purposes, such as paying a certain amount.
Non-consumable – cannot be used for purposes other than exchanging valuables.
Portable – can be easily carried with you.
Durable.
Safe – cannot be counterfeited.
Deficient – limited in quantity.

Equal – each piece has the same value as its equivalent.
Recognizable – it is recognized and accepted as a means of transaction.
This is how you can compare gold, paper currencies, and bitcoins with these characteristics in mind.

The main difference between bitcoin and traditional currencies is that no one controls bitcoin because it is decentralized. This allows bitcoin to be an independent monetary system that can function independently of anyone’s wishes. It relies on the combined computing power of network members, each of whom is equal to the other-no one is more or less important than the others. It also helps reduce the cost of using the system by eliminating the fees and transaction times that banks maintain.

No one can affect your money and the transactions you send or receive.

Traditional currencies, on the other hand, rely on centralized entities: central banks, commercial banks, governments, payment systems such as
VISA or Mastercard and others. Any of these entities have the authority to decide whether to approve your transaction, and whether you can send money to certain people or organizations. These processes also include comprehensive surveillance and data collection on everything you do with your money.

Another important difference between bitcoin and fiat currencies is that it is not backed by anything. This means that its value is not tied to any political or economic situation and can exist independently of the traditional system.

An important feature of bitcoin is programmability. This means that in the future bitcoin transactions can be attached to smart contracts or other programs. This feature will allow the creation of additional bitcoin-based solutions, such as reputation management systems, insurance contracts or the like. Such contracts do not require third-party intervention for execution.

Is bitcoin not backed by anything?
When asked what makes bitcoin different from the dollar, most people will tell you that bitcoin is not backed by anything. That’s not quite right: while bitcoin really has nothing to back it up, we can say the same thing about the dollar. Yes, before 1971, most currencies were backed by a commodity, usually gold or silver. But that’s not the case now.

Bitcoin, unlike traditional money:

Has no central authority.
Subject to deflation due to artificial scarcity, while central banks can print more money at any time.
Records every transaction in an open ledger.
Must pay transaction fees to miners, which is similar to paying taxes to the government, except that taxes can be evaded, while transfers cannot be made without paying fees on the blockchain.
Transactions are made over the Internet and include public addresses, whereas cash transactions are anonymous and leave no trace.
Many people call bitcoin the next step in the evolution of money. And since we have never had such money, questioning the concept and comparing it to traditional currencies is normal.

We hope you now know the key differences between bitcoin and conventional money.

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Why are stabelcoins important?

1. Stablecoins are an island of stability in a volatile market
   Stablecoins are as valuable to cryptocurrency investors and traders as fiat currency is to traditional market participants – they provide stability. For example, while traditional investors may allocate some assets from their portfolios to cash or treasuries when volatility increases, cryptocurrency investors may switch to stablcoins.
2. Stablecoins are a fast and efficient means of trading
   Cryptocurrency investors and traders often turn to stablcoins in a volatile market. Buying stabelcoins allows them to stay in the cryptocurrency market and make new trades quickly, without waiting days for fiat money to be transferred.
3. Stablecoins increase liquidity and volume in the cryptocurrency market
   The stability and efficiency of stabelcoins inspire confidence in the cryptocurrency market, so more people are willing to interact with it. An increase in the number of market participants increases trading volume and market capitalization. This, in turn, leads to more liquidity, which increases the efficiency of the cryptocurrency market. Improved efficiency also ensures more accurate asset pricing, resulting in fairer asset prices and tighter spreads between supply and demand.

How can you use Stablecoins?

Minimize volatility.
Assets like stablecoins can give risk-averse buyers and sellers confidence that the value of their tokens won’t rise or fall unpredictably in the near future. The stability of stabelcoins is suitable for beginners and experienced traders alike, and makes them a good asset to save or invest in, especially during bear market periods.

Earn Interest.
Traders and investors can earn interest with Stablecoins through lending and staking. Lending is the lending of stackablecoins in exchange for interest payments from borrowers. Stacking is the process by which cryptocurrency transactions are verified. By contributing your coins to steaking, you have the opportunity to receive a reward. The more coins you contribute, the more you can potentially earn.

Binance offers a full suite of products for a variety of financial needs. Crypto investors can buy Stablecoins like Binance USD (BUSD) and earn capitalized interest through Binance Earn. Learn more about it here. You can also make regular purchases for USDT, BUSD through Regular Purchase.

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Distributed: All bitcoin transactions are recorded in a public registry called a blockchain. The network relies on people who voluntarily keep copies of the registry and run the Bitcoin protocol software. These “nodes” facilitate the correct transactions by following the protocol rules defined by the software. There are currently more than 80,000 nodes distributed around the world, making it virtually impossible for the network to downtime or lose information.

Transparent: The addition of new transactions to the blockchain registry and the state of the Bitcoin network at any given time (in other words, the “truth”) is achieved by consensus in a transparent way, according to the rules of the protocol.

Peer-to-peer: Even though the nodes transmit the state of the network (“truth”), payments actually go directly from one person or enterprise to another. This means that there is no need for an intermediary in the form of any “trusted third party”.

No permissions are needed: anyone can use the Bitcoin network, there are no “gatekeepers” and no need to create a “Bitcoin account. Any transactions that comply with the rules of the protocol will be validated by the network according to certain consensus mechanisms.

Pseudo-anonymous. Identity information is not essentially tied to bitcoin transactions. Instead, transactions are tied to addresses that take the form of randomly generated alphanumeric strings.

Resistant to censorship: because all bitcoin transactions that comply with the rules of the protocol are valid, because the transactions are pseudo-anonymous, and because users themselves have the ‘keys’ to their bitcoin assets, it is difficult for government agencies to prohibit people from using Bitcoin or accessing users’ assets. This is important for freedom and democracy.

Publicly accessible: All transactions on the Bitcoin network are recorded and are publicly accessible. While this virtually eliminates the possibility of fraud, it also makes it possible in some cases to deductively link individuals to specific Bitcoin addresses.

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Ether is simply the cryptocurrency used for payments in the Ethereum ecosystem. They are often confused, but remember that Ether is a cryptocurrency and Ethereum is the entire system.

What is the difference between Ethereum and Bitcoin?
Ethereum, like bitcoin, is based on Blockchain technology, and ether can be used for payments just like bitcoin. However, this is where the similarities between the two most popular cryptocurrencies end.

Bitcoin can only be used as a currency for storing and transferring value.

The Ethereum ecosystem offers the ability to “program” money, create new cryptocurrencies using the Ethereum blockchain and even entire applications. All of this is possible thanks to the “smart contracts” that are an integral part of the Ethereum ecosystem.
Other key differences between Bitcoin and Ethereum:

The total number of bitcoins that will ever exist is 21 million, while the growth of Ether is limited to a certain amount each year, but there is still no specific definitive amount of Ether that will ever exist.
Block processing time with bitcoins is 10 minutes, but with ether, transactions can be completed in as little as 12 seconds.

What are smart contracts?
A smart contract is a computer code that is executed on the Ethereum blockchain and facilitates the exchange of money, content, property, stocks and anything else of measurable value. This code is executed automatically if certain conditions are met.

What are the uses of smart contracts in the real world?
If it still seems complicated and unclear to you, here’s a real-world example:

Let’s say you want to sell your apartment. This process usually involves a tremendous amount of bureaucracy and involves many third parties, such as:

• A broker to represent you and find a buyer,
• a lawyer to oversee the process and prepare the documents,
• a notary public to draw up the deed,
• A bank, which transfers money between the buyer and seller,
• A government agency that keeps records of transactions and property owners.

Ethereum can make this process much faster and easier.
Through Ethereum, you can create a smart contract whose provisions are governed by a few lines of code. Once a contract is published on the Ethereum blockchain, it cannot be changed.

When all the conditions specified in the code are met – the contract is automatically executed and funds are transferred from the buyer’s wallet directly to the seller’s wallet.

Thus:

we don’t need a notary because the contract is confirmed automatically and cannot be forged,
we don’t need a bank, because the payment is over the air in just 12 seconds, and the price of the property is one of the conditions of the contract,
we don’t need a property registry because all the information about the transaction as well as the new owner can be recorded in the blockchain.

How is Ether mined?
Ether, like Bitcoin, is created by independent individuals and companies who verify blockchain transactions using their computers. This process is known as “mining.”

The word “mining” comes from the context of the analogy between cryptocurrencies and gold, since both are finite. The only way to increase their number in circulation is to “mine” more of them. You can learn more on the subject here, .

In short, anyone can use their computer to mine ether. Like gold, ether mining can be a business. You’ve probably seen pictures of so-called “farms” – huge warehouses filled with video cards.

As mentioned, Ether is a cryptocurrency and Ethereum is the whole ecosystem behind it. The two concepts are often confused.

Ether cryptocurrency is abbreviated ETH and can be traded on most cryptocurrency exchanges, including Finansiv.

In 2017, the price of Ether rose from 7 euros at the beginning of the year to a staggering 700 euros at the end of that year.

You can follow the current price of ether here, .

How do I get ether?
You have two options to get ether, namely:

• To become a miner and mine your own ether,
• to exchange other currencies for ether using a regulated exchange like Finansiv.

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All transactions in the bitcoin network are recorded in a distributed data registry, the blockchain, a copy of which is stored in a complete node connected to the bitcoin global network. The blockchain data is regularly verified using the Proof-of-Work consensus algorithm.
The bitcoin network uses the unit of the same name “bitcoin” (ticker BTC), the first and best known cryptocurrency, for its calculations. Since its creation, bitcoin remains the largest cryptocurrency by market capitalization.

Bitcoin operates without the involvement of any supervisory authority or central bank; coin issuance and transaction processing are done collectively by network participants. Thus, no one can control bitcoin, block or cancel a transaction. However, anyone can join the network, use it for transfers or develop the bitcoin code.

Bitcoin’s main innovation
Bitcoin was created as an open-source digital payment system. The main breakthrough and at the same time the value of this project is that for the first time it managed to create a self-sufficient, reliable and decentralized system for transfers.

Any bank or other similar financial institution is a centralized structure. The work of its operator, as a rule, is fully or partially closed from the users (customers). This leads to the need to trust their money. A centralized structure is vulnerable to errors, abuse and fraud.

Bitcoin does not have all these problems, because it is a decentralized structure that is built and maintained by its participants themselves without the central operator. All users’ balances are public (although specific identities are hidden), and the network protocol has mechanisms that regularly check that all data is correct.

The bitcoin network consists of nodes (nodes) – networked computers with special software installed on them. Each node stores and updates a copy of the bitcoin blockchain. The process of confirming transactions, creating new blocks and validating a single version of the blockchain is done using a consensus algorithm called Proof-of-Work.

The data of all transfers and balance states of all bitcoin addresses are stored in a decentralized registry, the blockchain. This is a database, which is a continuous chain of blocks, in each of which new transactions are recorded.

The role and importance of cryptocurrency
A key element of the traditional economy that the anonymous creator of bitcoin wanted to fix was money. In today’s world, national currencies, or fiat money, are printed by states. They are also a centralized structure with known shortcomings. First of all, the value of money is determined by the actions and credibility of the issuer. In addition, fiat money is subject to constant inflation, that is, depreciation.

That is why bitcoin blockchain does not use fiat money for transfers, but a special unit of account – cryptocurrency. Its main function is to serve as a means of transferring value in the bitcoin network. This value can be calculated in any convenient form, for example, in the same national currency, hence the bitcoin price is formed. The value of the first cryptocurrency, again, is determined not by the central bank or any one organization, but by users and investors in the open market.

Thus, the price of bitcoin is not determined by the state, the central bank or any one entity, but only by the coin holders themselves. Some researchers have also suggested that bitcoin’s intrinsic value should be determined.

It is important to note: Bitcoin was only originally conceived as a replacement for fiat money. Although the first cryptocurrency is used for payments, today many people perceive bitcoin more as a valuable investment asset.

How to “open an account” in bitcoin and make transfers
Joining a project called bitcoin is even easier than becoming a bank customer. First, you need to download and set up a wallet – a special program that allows you to create an address in the bitcoin network, as well as to make transactions, that is, receive coins or send them to other addresses.

To create and manage a bitcoin blockchain address, there is no need to go through the cumbersome and time-consuming identity verification associated with uploading personal documents. Address creation is just a few clicks away in the wallet interface.

A bitcoin address is analogous to a universal bank account. As the protocol has evolved, several new address formats have emerged in the bitcoin blockchain. Almost all of them, with a few exceptions, are fully compatible with each other. Choosing a more modern format can save you money on transactions.

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