Crypto currencies: how does it work?

We regularly hear about crypto currencies. Even if we intuitively understand that it is a virtual currency encrypted or digital and therefore not physical as our bills and coins are, it is not uncommon to want to deepen the question. The operation remains relatively simple since it is a matter of converting a classic currency like the Euro into crypto currency.

 

The principle of the crypto currency and how to get it from briansclub

It is a virtual currency that works like the currency you have in your bank account since you do not have all your money in cash. It is secure: it is encrypted so that counterfeiting is not possible. Unlike your traditional money, it does not go through banks and this currency is stored in digital wallets and relies on computers called blockchains.

 

In other words, it bypasses the traditional banking system and is not subject to government control or a central regulatory authority. The principle is therefore to make transactions directly from one person to another without the third party that is the bank.

 

What are the platforms like briansclub.cm used for?

A crypto currency platform is primarily used to simplify your life. They allow you to trade, buy and sell your crypto-assets. It is the most common way to make transactions. These platforms usually charge you a service fee, like a bank, which can be done by deducting from your buy, sell or exchange order. It is therefore necessary to find out before choosing your exchange platform, especially to know the fees, to know the withdrawal limits and to know its reputation because it is the platform that holds your crypto key. Their use is relatively simple but it is a third party, an element to take into account. 

 

How blockchain works

To put it simply, blockchains are a kind of register that records all transactions. These are authenticated and verified by "miners". They are stored on computers that run on this technology. In other words, the database is public and the books can be accessed by anyone. To make a transfer, you must prove ownership.

 

What is the purpose of this?

Like traditional money, it is possible to use your crypto currencies to make purchases in stores although it is increasingly used to buy NFTs or even create them, make donations or pay your bills. Even if this is not its primary use, it must be admitted that it is for speculation that crypto-currencies are really successful.  Since these currencies are very volatile by nature, you have to be aware that you can make money very quickly but also lose some. Not all crypto-currencies have the same use, so you need to learn about the specific use of each one even though some are universally accepted. You can use briansclub for this.