In this article, we would like to consider 8 questions, the answers to which will remove doubts about the need, complexity of storage and use cryptocurrencies.
- I don't have enough money to buy a whole Bitcoin. Moreover, it already costs unrealistic money, it was necessary to think earlier!
Bitcoin, like most cryptocurrencies, does not have to be bought by the whole unit, you can buy a tenth, a hundredth and even a thousandth and store it. Everything will depend on the place of purchase and the price for transferring it to the place you need. At the moment, almost all Exchanges operating in Ukraine have a purchase threshold of 500 UAH ($14), at the rate of $30,000 for one Bitcoin, you can become the owner of 0.0005 of its part. Those. for $300 to buy a penny, or 10 kopecks for $3000. In this way, you can purchase shares of other currencies, or tens of thousands of units - now worth hundredths of a cent for 1 unit. Cryptocurrencies themselves, as part of the global financial market, are at the very beginning of their journey, this technology does not have a general global acceptance at the level of every inhabitant of the earth, therefore, it is impossible to say that you are late. Each cryptocurrency is valuable in its own way, Bitcoin is compared with gold, and is called digital gold (What is its value, and what will be with him further, you can read here). Every month, dozens of projects appear that release their tokens, which have a minimum cost at the beginning of their journey.
- I don't know where crypto is sold! In Silpo and ATB it is not!
Cryptocurrency can be bought on the Exchange, through the Exchanger, received from friends or on free distributions (airdrop), exchanged for real estate or become its owner in any similar way.
- Even if I buy it, where should I store it? How does this happen?
Cryptocurrency can be stored on the Exchange, Internet resources or on special devices - crypto wallets. Read more in the article Cold and hot storage of cryptocurrency.
- Exchanges? It is difficult and you need licenses, experience in trading ...
Cryptocurrency exchanges are resources that are simply arranged for the average user. You register, enter your local currency there and simply buy (exchange) for the cryptocurrency you need, at the rate at that time. You don't have to use all the other complex tools that these resources provide.
- I do not want my money to be on the Internet, so it is not mine, but in the wrong hands.
Indeed, when you store crypto on the exchange, or other Internet resources, you only have a login and password, the coins are in the wrong hands at that moment. Use the exchange as a place to buy and sell with small commissions, and then withdraw to cold storage using hardware wallets (special devices), then the funds will belong only to you.
- If I lose this wallet or will it break?
When you turn it on for the first time, cold wallets generate a so-called seed phrase for you, this is a backup - a recovery phrase, by entering which on a new device you will again get access to your assets. more details
- So it's not a wallet? So where will my money be kept?
Your tokens are stored in blockchain networks, and the wallet is the device that gives you access to them. Link
- Why do I need cryptocurrency? What is its value, how to use it?
To date, there are a huge number of ways to use cryptocurrency, the main one is the transfer of value. You can use a stablecoin to transfer assets without fear of exchange rate fluctuations, since the price of this asset is tied to a specific financial unit. Most of the digital assets are needed as a payment for the use of the blockchains of these projects. For example, you need servers to store data, you want to use the power of blockchain Filecoin , payment for data storage will be a token Fil , which is on free sale. Or write a project using the capabilities of the ETH network, in such tokens there is a fee for using this blockchain network. Other coins are a confirmation of the power of a particular network when you guarantee them to be in a certain place.
So why exactly is Bitcoin valuable? He is valuable with its code and embedded in it deflationary models, all supported most powerful and reliable network in the world that guarantees you the right to own. Confirmation action that _ no one can change. Value without _ vulnerabilities from the outside. Any registry wiped off, tomorrow official or judge they will take a bribe and your property will no longer be yours. Bank or exchange will block check or account. With Bitcoin, this will not work, with the right storage their closed keys, you and only you will own his crypto always. Crypto is one of tools financial world, which gives possibility. Add her How dilution of your asset portfolio, divide by three to four useful crypto projects, among which bitcoin will take the lion's share, and enjoy, or weep but remember, bye you didn't come out from crypts by fixing minus, you are not in minus. bitcoin will thank you for HODL and will punish you for abrupt steps.
