Have you Ever Thought of Making your Money Digitalized?

Yes, it is possible these days through cryptocurrency. It is a form of electronic cash. A digital currency uses encryption technique which converts the data into codes, to prevent unauthorized access.

It is a new trend of investing your money and that too in a safe form.

In the world of cryptocurrency, mining is a process in which units of currency are created. These cryptocurrencies are not growing steadily as well but they have created a market place where people can trade instantly and anonymously. They support any payment method and are an end to end encrypted.

Its founder is Satoshi Nakamoto and slowly it’s becoming a household name. Miners, these days are now running computer programs to verify the data that creates a complete transaction history of all Bitcoin.

It is impossible to talk about bitcoin and not mention powerful technology like Blockchain, which is used to create an irreversible and traceable transaction which makes the process of verification possible.

A miner verifies the data which is generally present in block hence, blockchain, they are benefitted with some amount of digital currency. In short mining will make you earn more bitcoins.

Trading in the digital currency is not that easy. You are going to need a platform on which to trade and an intermediary to communicate with the network. Most of the people do not have the technological wherewithal to communicate with the blockchain or to store our digital currency. This is where Coinbase is required.

Coin base is a global digital asset exchange company (GDAX), which provides a venue to buy and sell digital currencies, as well as send information about those transactions out to the blockchain network to verify those transactions. Coinbase serves as a wallet, too, where the digital currencies can be stored. The application operates exchanges of Bitcoin, Ethereum, Bitcoin Cash and Litecoin, as well as other digital assets with fiat currencies in 32 countries, and Bitcoin transactions in many more countries. According to its website, Coin base has served over 10 million customers and facilitated the exchange of more than $50 billion worth of digital currency.

Essentially, if you are interested in trading in digital currencies but don’t want to get bogged down in the underlying technology, products like Coin base are a way to begin a foray into a new form of currency speculation and investing. You do, however, lose some of the advantages of trading in a cryptocurrency and through the blockchain.

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