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What is a cryptocurrency and how does it work? Distinctive features, the principle of treatment, the pros and cons

Cryptocurrency is virtual money, which, unlike fiatnogo means have no physical expression. The unit of such currency is “coin”, which in English means “coin”. The peculiarity of the monetary unit is protection against forgery, because it contains encrypted data that cannot be duplicated. The key feature of cryptocurrency is the absence of any internal or external administrator. Therefore, banks, tax, judicial and government agencies cannot influence the transactions of any participants in the payment system. This is possible because all data with cryptocurrency wallets and transactions are stored in the blockchain .

Cryptocurrency transfer is irreversible - no one can cancel, block, challenge or forcibly (without a private key) make a transaction. However, participants in a transaction may voluntarily temporarily mutually block their cryptocurrencies as collateral or establish that the agreement of all (or arbitrary additional) parties is required to complete / cancel a transaction. Such opportunities are available in smart contracts and depend on the specific blockchain. How can I get a cryptocurrency : Cloud mining is the best way to get bitcoins at the beginning of 2019. It represents the rental capacity of the cloud mining service in the form of a contract for a year. All the power of this cryptocurrency gained comes to your account. Want to lear more about Ethereum gambling? Visit https://winten.win

On average, income is from 130% to 300% per year, it all depends on the course and the increase in network complexity. But keep in mind in cloud mining there are a lot of scam sites or pyramids, you can only trust the old and proven services, there are not many of them on the market, the most authoritative IQMining and HashFlare . Classic mining . Those involved in mining, as it were, lease a hashrate of their ASIKs, video cards and processors to obtain cryptocurrency by using computational power data. There are many farms for the mass mining of bitcoins. Buying cryptocurrency . You can buy e-currency for money in special exchangers, we published a detailed review of the most popular and reliable ones here .