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How does a blockchain work?
How does a blockchain work?
 The blockchain is a database that allows you to add information but not edit it, therefore making it the go-to place for accurate information. In the digital world, we live in, it is very easy to manipulate information. In fact, it's getting harder and harder to know what's real and who to trust. This is where blockchain comes into play.A blockchain is essentially a database that allows information to be recorded in it, shared, and made available to everyone, but makes the information uneditable. This means that once the information is on the blockchain, it cannot be changed, misinterpreted, or deleted. In this way, the blockchain acts as a source of truth.To understand how blockchain works, let's assume you're moving and start by packing your kitchen utensils.How blockchain works in different industries:health care. Medical records are added to the blockchain so doctors can view accurate health records in real time.music industry. Songwriters put their creations on the blockchain, so true ownership of the work is recorded and other artists cannot copy their work.aerospace industry. NASA uses blockchain to keep its space shuttle information accurate and protect its information from hackers.As you can see, blockchain technology is spreading beyond cryptocurrencies and helping us create a safer, more transparent and more secure world. It is used where the risk is high and the information should not be manipulated. This is what makes blockchain powerful.

Thu, 28 Apr 2022

How do I buy cryptocurrencies?
How do I buy cryptocurrencies?
 “Cryptocurrency exchanges” are platforms that allow you to buy, sell and trade cryptocurrencies. The most common way to buy cryptocurrencies is through online platforms that allow you to buy, sell, and trade cryptocurrencies, known as "cryptocurrency exchanges" or simply "exchanges." The exchange usually behaves like your online broker.Canadian exchanges like ours at Netcoins allow you to deposit Canadian dollars directly into your Netcoins account via Interac electronic transfer, online bill pay, or wire transfer.That's it! It's that simple, fast, and painless. While this is great, it's still important to be aware of the other options available to you when buying cryptocurrencies.Bitcoin ATM.A Bitcoin ATM is similar to a regular ATM, but it does not require a PIN. Instead, it uses a QR code from your cryptocurrency wallet app. This code requires the ATM to send bitcoins directly to your wallet. Of course, the first step is to deposit cash into a Bitcoin ATM.Buy Bitcoin in person.Some people prefer human interaction. Because of this, some Bitcoin companies offer brick-and-mortar stores where you will meet someone from their team who will walk you through the buying process from start to finish.Buy Bitcoin in person.Some people prefer human interaction. Because of this, some Bitcoin companies offer brick-and-mortar stores where you will meet someone from their team who will walk you through the buying process from start to finish.Buy bitcoin privately.People who value privacy can meet friends they trust to buy bitcoin from them. LocalBitcoins.com also offers a marketplace where you can set your own bitcoin buying and selling prices and meet in person to complete your purchase.Whatever you like, make sure you do your research and know what you're investing in. If you are meeting with strangers in person, it is recommended that you meet at a police station or bank with guards and cameras (for security reasons).

Thu, 28 Apr 2022

What are cryptocurrencies?
What are cryptocurrencies?
 Cryptocurrencies are digital money not owned or controlled by banks or governments.Shells, livestock, wine, cigarettes, and gold have all played the role of money (and "means of exchange") throughout the history of money. Today, this role is replaced by banknotes and coins issued, controlled, and managed by governments and banks. This new type of currency is called fiat currency.So what is cryptocurrency?Invented in 2008, cryptocurrencies are a relatively new addition to the monetary system. It is a digital currency and therefore does not exist in physical form (no coins or banknotes!). Instead, it exists only online. Unlike fiat currency, it is a currency that is not controlled by a central bank or government.Fiat currency, on the other hand, was invented in 1971, marking the first time in history that money was controlled by a central bank or government (or “central authority”). Before that, money was created and managed by the market and the people themselves. With cryptocurrencies, we come back to who decides what should be currency and how it should be governed.The problem with currency control is that the central authority can make all decisions about money and print as much money as possible to benefit them, regardless of how it affects the rest of society.Cryptocurrencies, on the other hand, are like democracy. They are run by a group of people who believe in the same philosophy: fair money and fair access to money. Then, a group of developers is working to create an online decentralized system that will allow cryptocurrencies to be sent back and forth (called a "peer-to-peer network"). This allows people to send cryptocurrency to each other without going through banks or governments that charge fees or interest rates or delay people's access to funds.Fiat currencies and cryptocurrencies share some similarities:(1) They are used to buy and sell goods and services. For example, you can pay for an Air Canada flight with Bitcoin.(2) One cryptocurrency can be exchanged for another cryptocurrency. You can exchange bitcoin for ether just like you can exchange Canadian dollars for euros.(3) Cryptocurrencies can be used as a form of investment. You can cash out and profit when the price goes up.Cryptocurrencies are considered the currency of the people and the next step in the evolution of money. As our world becomes more and more digital, the role of cryptocurrencies will only grow.

Thu, 28 Apr 2022

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