Cracking the facts
What is cryptocurrency?
Cryptocurrency has become a buzzword in recent years due to its promise of exponential financial returns.
What is cryptocurrency?
Cryptocurrency has become a buzzword in recent years due to its promise of exponential financial returns.
What is cryptocurrency?
Around this hype, you may have heard or read the words bitcoin, cashless, ethereum and ripple and blockchain. But to fully understand why cryptocurrency is “trending” in the financial world, you need to get down to the basics.
In this video, we’ll explain to you what cryptocurrency is and how it works.
A cryptocurrency is a digital currency. It is designed to function as a medium of exchange and has a network that is distributed across a large number of computers. This network is built on blockchain technology.
Crypto typically does not exist in physical form (like paper money) and is not issued or backed by a central authority. This online, decentralised structure allows it to operate outside the regulation of governments and central banks. Because it’s not regulated, cryptocurrencies are easier to transfer and don’t need a middleman such as banks or a credit card company for transactions.
What is cryptocurrency?
There are several types of cryptocurrencies that are being traded around the world. Bitcoin, which you might have already heard of, is the most popular digital currency and makes up more than half of the total crypto market. There are also other crypto currencies that are being traded, including ripple and ethereum.
Cryptocurrency might seem like a lucrative investment, but it is very important to be well informed before putting your money into this digital asset. Transactions using cryptocurrencies can also be very tricky, and investing without the proper knowledge could lead to huge losses.
Explore nestegg to get fresh, spot-on information about cryptocurrency, mutual funds, properties, stock market and other platforms you can use to invest your money effectively.
RELATED ARTICLES
Financial Terms Made Easy
What Is A Personal Cash Loan - Video
Have you ever found yourself in a financial pinch? You may be looking to consolidate your credit card debt, fix your house or fund your dream wedding. Whatever your financial problem is, you’re not ...Read more
Financial Terms Made Easy
What’s ethical investing?
How would you feel if you found out that the fund you have money in is invested in companies that have morally questionable products or beliefs? How does one invest “ethically”? Read more
Financial Terms Made Easy
What is a commodity?
Commodities are part of our daily lives. It’s in the food we eat, the clothes we wear and are even used to heat our homes. But what exactly are commodities? Read more
Financial Terms Made Easy
What is a mortgage broker?
You have found the perfect property to purchase and now you’re on the lookout for the best loan to put those keys in your hand. But shopping for a mortgage can be a tedious step in buying a house or ...Read more
Financial Terms Made Easy
What is a buyer's agent?
Whether you’re a first-time home buyer looking for your dream house or an investor looking to get into the real estate market, purchasing a property can seem like a difficult task. Read more
Financial Terms Made Easy
What is a stockbroker?
Finding a good stockbroker can be the difference between being a successful trader or suffering investment losses. In this video, we’ll discuss what a stockbroker does and how you can find the best ...Read more
Financial Terms Made Easy
How does a payday loan work?
Do you need fast cash? Do you want a quick fix for that financial emergency but didn’t take the time to save money for a rainy day? Read more
Financial Terms Made Easy
Setting up a SMSF
So, you’ve decided to set up your own self-managed superannuation fund (SMSF). You are excited with this new financial venture to boost your retirement funds, but you’re not quite sure where to ...Read more
Financial Terms Made Easy
What Is A Personal Cash Loan - Video
Have you ever found yourself in a financial pinch? You may be looking to consolidate your credit card debt, fix your house or fund your dream wedding. Whatever your financial problem is, you’re not ...Read more
Financial Terms Made Easy
What’s ethical investing?
How would you feel if you found out that the fund you have money in is invested in companies that have morally questionable products or beliefs? How does one invest “ethically”? Read more
Financial Terms Made Easy
What is a commodity?
Commodities are part of our daily lives. It’s in the food we eat, the clothes we wear and are even used to heat our homes. But what exactly are commodities? Read more
Financial Terms Made Easy
What is a mortgage broker?
You have found the perfect property to purchase and now you’re on the lookout for the best loan to put those keys in your hand. But shopping for a mortgage can be a tedious step in buying a house or ...Read more
Financial Terms Made Easy
What is a buyer's agent?
Whether you’re a first-time home buyer looking for your dream house or an investor looking to get into the real estate market, purchasing a property can seem like a difficult task. Read more
Financial Terms Made Easy
What is a stockbroker?
Finding a good stockbroker can be the difference between being a successful trader or suffering investment losses. In this video, we’ll discuss what a stockbroker does and how you can find the best ...Read more
Financial Terms Made Easy
How does a payday loan work?
Do you need fast cash? Do you want a quick fix for that financial emergency but didn’t take the time to save money for a rainy day? Read more
Financial Terms Made Easy
Setting up a SMSF
So, you’ve decided to set up your own self-managed superannuation fund (SMSF). You are excited with this new financial venture to boost your retirement funds, but you’re not quite sure where to ...Read more
