Important Crypto Currency Questions Answered

Important Crypto Currency Questions Answered

What is Crypto all about ?

Crypto in short for cryptocurrency is money created by programmable code. With crypto, YOU ARE YOUR OWN BANK !

What is Crypto backed by ?

Crypto currencies aren’t backed by anything. This is why their prices cannot be controlled and manipulated by any government.

What is Crypto Banking ?

Similar to normal banking, crypto banking refers to exchange of goods or services by crypto currencies.

What is Crypto Blockchain ?

Crypto blockchain is a publicly accessible transaction ledger of a particular crypto currency. Crypto blockchains are highly secure and unalterable.

What is Crypto Cold Storage ?

Crypto cold storage refers to the crypto currency wallet which is not connected to the internet. It store you crypto funds offline and can be connected online for usage.

What is Crypto DeFi ?

DeFi stands for Decentralized Finance. It is basically a censorship-resistant, smart contract based crypto currency. There are hundreds of DeFi currencies.

What is Crypto Credit Card ?

Crypto credit card is just like a MasterCard or Visa but it is exclusive to crypto currencies. Some famous companies include TenX, Nexo etc.

What is Crypto Debit Card ?

Crypto debit card is same as any conventional debit card. These cards could provide more crypto adaptability to the masses.

What is Crypto Dollar ?

Crypto dollar means the unit value of a particular currency to the dollar.

For eg. 1 btc = $10,000 (approx.)

What is Crypto Exchange Platform ?

Crypto exchange platform is an online marketplace where you can buy many crypto currencies (such as Coinbase, Kraken, Binance etc).

What is Crypto Farming ?

Crypto farming refers to the earning of interest on you crypto currency by investing it on the crypto currency exchange platforms.

What is Crypto Finance ?

Crypto finance simply means financing your activities by crypto currency.

What is Crypto Faucet ?

Crypto faucets are the websites that let you earn in your desired crypto currencies by completing small tasks such as watching a video, completing a survey etc. Also keep in mind that earning are on the low side.

What is Crypto Gas ?

Crypto gas is a fee used to confirm transactions on Ethereum and other ethereum’s blockchain-based crypto currencies. It sound confusing but it runs by itself and all you need to is to set the amount you will pay as a fee.

What is Crypto Halving ?

Crypto halving means that rewards for mining crypto currency is cut in half every four years. This halving increases the competition between the miners.

What is Crypto Hash ?

Crypto hash is a cryptographic mathematical algorithm used for the conversion of an input containing details like name, address etc into the output of a fixed number of characters. It basically unlinks input and output.

What is Crypto Hash Rate ?

Crypto hash rate is the computational power required to mine a crypto currency. Higher the hash rate, higher the mining.

What is Crypto Fork ?

Crypto fork refers to the upgradation of a blockchain or creation of a new one.

What is Crypto Hard Fork ?

A hard fork in a crypto currency blockchain will result into two network. Hard fork is usually required for major improvements in a crypto currency. For example Bitcoin was hard forked into Bitcoin Cash and Bitcoin SV.

What is Crypto Soft Fork ?

Crypto soft fork simply refers to addition of new features, minor upgrades, bug fixes etc. on a blockchain. Unlike hard fork, it does not result into splitting of a blockchain.

What is Cryptojacking ?

Cryptojacking is the act of mining crypto currency by using someone else’s hardware.

What is Cryptojacking Attack ?

Cryptojacking attack also known as malicious crypto mining, refers to sending malware to someone’s computer and using their computational power to mine a crypto currency. It only mines as long as you are using a certain website or software.

What is Crypto Malware ?

Crypto malware is a program which discreetly mines a crypto currency in the background for as long as possible.

What is Crypto Ransomware ?

Crypto ransomware is a program which encrypts the files on a computer or smartphone and asks for a ransom in a crypto currency or threatens to share it in public or destroy it. It is usually sent via emails.

What is Crypto Node ?

A node is a hardware connected to the cryptocurrency’s blockchain network. Nodes validate the details of a transaction.

What is Crypto Shredding ?

Crypto currencies are encrypted and decrypted by keys. Crypto shredding is the process of destroying the keys required for decryption of an encrypted data.

What is Crypto Token ?

It is a tradable asset of a crypto currency. Crypto tokens of a crypto currency are usually given to early investors.

What is Crypto Voucher ?

Think of crypto voucher like a gift card which can be redeemed and used to buy different types of crypto currencies.

What is Crypto Whale ?

Crypto whale is someone who owns a large chunk of a particular crypto currency and any movement/statement from him can create increase or decrease in price.

What is Crypto Yield Farming ?

Crypto yield farming is the process of earning fixed or variable interest on your cryptocurrency by investing it on an emerging currency.

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READ MORE:

What is Ethereum And Smart Contracts ?

Monero: A Private And Secure Cryptocurrency

What are ICOs ? Why Investors Love ICOs ?

Bitcoin Price And Value Growth Story

How To Convert One Cryptocurrency To Another

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  • bitcoinBitcoin (BTC) $ 32,197.00
  • ethereumEthereum (ETH) $ 1,975.67
  • tetherTether (USDT) $ 0.996913
  • dogecoinDogecoin (DOGE) $ 0.201865
  • litecoinLitecoin (LTC) $ 116.84
  • moneroMonero (XMR) $ 197.93