Crypto, what is it? It is a short form of the word cryptocurrency. By definition, crypto is a form of payment online for goods and services. The coding is used to provide secure online activities. Which then protects those actions. The world is becoming more involved with newer money systems called cryptocurrency. In an effort to make transactions faster and more secure, we are moving toward a decentralized system. Bitcoin was the very first type of crypto. Today, we have more than 6,700 different types of crypto available to us. I have put together details and tools that might help you better understand Bitcoin. Crypto. Wallets. And what they might mean to us.
The basics of what Bitcoin represents:
Bitcoin is the world’s first form of distributed money. In fact, this means it is not put in one central location. Like a single bank.
- Besides, Bitcoin is simply an asset that maintains its value.
- Also, central authorities and governments cannot manipulate Bitcoin.
You can also look at it like this. Bitcoin is based on a peer to peer structure. The network is able to operate as its own economy. Where there is no middle men. Or third party service providers.
Wallets for Crypto
When you talk about blockchain tech, there will always be risk and reward. Where there is good. Also, there will be some bad. In response to this, regulations are being put in place. By all means, you will want a safe place to buy, sell and store your crypto.
There are many different wallets out there on the web.
- Coinbase is the most popular way to buy, sell and trade bitcoin, ethereum, and litecoin, among others.
- Trust Wallet is a fast, secure Ethereum mobile wallet. And the DApp Browser is easy to use.
- MyEtherWallet is an open source, client side tool for interacting with the blockchain.
- BitGo Cryptocurrency Wallet is the market leader in the area of digital financial services. This provides clients with security, compliance, custodial, and liquidity solutions.
- StakedWallet.io – This is a new age crypto wallet that allows its users to earn on Proof Of Stake. Also, with this wallet you can exchange cryptocurrency. Then you can benefit from a 5 level referral program.
- Jaxx is your wallet for Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash and Zcash. Among a long list of other blockchain assets and crypto coin.
- CoinPayments is a global payment gateway. It enables users to easily manage your Bitcoin, Ethereum, Litecoin, and more than 2,000 other types of crypto hosted on its site.
In fact, when you begin to do your own research you will find many choices for crypto wallets. I have only given you a sampling. I find that Coinbase is one of the easiest to use. You can connect a U.S. bank account and easily transfer dollars in or out of your wallet. This is also available as an app for your mobile device. Also, I like the fact that they have a learn and earn program when they introduce new crypto coin.
Digital Exchange
Indeed, the Coinbase digital exchange and online crypto wallet provider is great for people new to the world of cryptocurrency. It makes buying and selling very similar to stock trading through your brokerage account. Coinbase trading accounts can hold at minimum 43 different tradable types of crypto. This includes the U.S. dollar and the Coinbase USD Coin. Which is pegged to the dollar. Some coins can even earn interest.
Earn Crypto with Coinbase
Another great feature is Coinbase Earn. This gives you free crypto coin in exchange for watching videos and taking quizzes. Also, this helps you to learn more about crypto. New content gets added all the time. If you have your wallet set up, make sure you sign up for the email updates. This gives you first shot at learning all about the newest coin additions. Totally COOL, right??
Coinbase Pro is an active trading platform. In fact, it has its own high end user interface. Along with application programming interface (API) support. This allows other developers to connect to Coinbase Pro. Similar to how many sites connect to PayPal. Also, it has its own fee structure.
In the world of Crypto, there are fees for transactions. These are known as Gas fees. And they vary by provider. Which brings me to the only drawback I have found. If you use Coinbase, their fees and costs can be higher. There are flat transaction fees, and a spread that they charge when changing among currencies. Those fees can definitely add up fast.
MY Pros and Cons on Coinbase
What We Like
- Easy to get started with
- Best known crypto currency exchange
- Strong security track record
- Learn and Earn
What We Don’t Like
- High transaction fees
- Occasional outages
You can get more information on blockchain innovation by continuing to the Block chain Details Page Here. There is so much to learn! We add new things all the time. Remember to bookmark this page and come back often.
