By crytocurrency we mean a virtual or a hidden currency built to serve as means of trading. It makes use of template called cryptography to protect and make sure transactions are valid so that a specific units of cryptocurrency can be developed. They are actually uncounted entries store in a database that cannot be altered until some rules are followed.
5. HOW DID CRYPTOCURRENCY CAME INTO EXISTENCE
So many organization have been trying to develop the virtual currency since the 90s when technology is still coming up as many firms like flooz, beenz and digicash were coming up but they all failed reason because of fraud, financial problems and fracals among companies bosses and employees.
All these firms made use of a trusted third party method to verify and make transaction easy.
But due to setback of these companies, the development of a digital cash system was seen as a forgotten issue.
In the year 2009, an expert programmer or a community of programmers tutor under an alias Satoshi Nakamoto brought Bitcoin. Satoshi made it clear as a ‘peer-to-peer electronic cash system. The system is completely decentralized, meaning there are no servers use and no general controlling body is involved. This design closely resembles peer to peer networks for file spreading
The difficult problems that any paying network has to solve is double-spending. It becomes fraud when one have to spend twice. The traditional solution involve a trusted third party, a central server that keep track of all balances and transactions. Notwithstanding, the old method always depend on an authority usually the government to control your funds and with all your personal information at their disposer
When considering a decentralized network like Bitcoin, every one participating needs to make the transaction that the receiver and the sender. This is achieve to a leger called Blockchain which a public ledger of all transaction that will happened within the network made known to everyone. With this, everyone will be able to see the transactions that has just been perform in their account balance.
The transaction deal is a file that is made of the sender’s and recipient’s public keys (wallet addresses) and the number of coins transferred. The transaction also needs to be verify by the sender with their private key. These are just the basis of cryptography. After that, the transaction is displayed in the network and confirmation is also needed.
In addition, in a cryptocurrency network, it is the duty of the miners to confirm transaction after solving a mathematical puzzle called cryptographic. They collect transactions and note them as genuine before disseminating them across the network.
4. HOW TO STORE YOUR COINS?
There are about 1558 coins also known as altcoins. The coins are bitcoin, etherum, litcoin, neo etc. kindly check this www.coinmarketcap.com to get the list of other coins. For you to use the coins you need to convert them to bitcoin as it the first coin that was developed. The value of the coin as at the time of writing is $9065.93 as it does go up and down. The coin especially the bitocoins are stored in wallets like the blockchain.info on your system or you get the app on your phone.
PROOF OF EARNINGS
3. HOW TO MAKE MONEY WITH THE BITCOIN
You can make money with bitcoin by
1) By mining bitcoin
2) By buying other coins which can be converted to bitcoin and later to your fiat currency. But I will be dealing more on the mining
What Is Mining?
Mining is simply the process whereby transactions are verified and put into an open ledger called block chain and these transactions are done by miners through a computation process.
2. THE CRYPTOMINING FARM
Cryptominingfarm business is one of the top best mining businesses on the internet that is making wave now. The system gives one of the best interests rate that has never been seen before as one can receive commission that is up to 20 level when you bring in people to the company but this is not a must as you can still get your earnings without having to introduce any one.
They have also been in operation since 2014 till now still operating smoothly.
There are many bitcoin thief on the web today but cryptominingfarm design is different as they make use of digital currency mining process to generate bitcoin as well as etherum which are the two coins the system operate on.
The multilevel marketing has been the order of the day but many are getting discourage as you need to introduce someone before you can be paid so one need to know about mining as one of the ways to make money on the internet without stress.
In addition, it offers about 4 plans of operation which are 3months, 6months, 1year, 3year and 15years plan but you can also buy a plan that do not expire.
1. WORKING PRINCIPLE OF CRYPTOMINING FARM
The firm operate on hash power know GHS that you have purchase and this is the measurement they use to run your plan. The company makes use of GHS which means virtual mining hash rate as there is no real bitcoin hardware.
As I am saying, cryptominingfarm does the mining on a private blockchain that has no dealing with the bitcoin network as the tokens that are utilized in the platform are real block chain based token that is actually mined but this is not out of the cyptominingfarm platform.
Furthermore, You need to purchase a plan into the company and the firm gives you “hash rate” towards the block chain which help you generate profit for yourself as well as those you will introduce into the system but like a said it is not a most you must refer someone but the more you refer you earn more.
Added to this, there is a two factor authenticator you need to secure you account against internet fraud which the system has provided. So with the help of your android phone you can secure you earning and your member areas where you can see your account details.
Cryptominingfarm also have minimum amount your earning will get to before you can withdraw your funds.
For bitocoin your earning must get to 0.005 and for etherum your earnings must get to 0.02 as they also charge transaction fee that is minimal.
CryptoMiningFarm gives the following attributes
1 A free 50 GHS (GHS is the unit of measurement use in the mining farm’s virtual hashrate and has nothing to do with hashrates on the bitcoin network)
2 Surprises when you invest
3 There is not increase in the difficulty level, that is all it takes to mine the coin
4 They do not charge for maintenance fees as other mining company do and
5 They give you 15% bonus for any one you bring to the system which is added to your HASHRATE inorder to boost your earning.
In conclusion, cryptomingfarm offer the best way for you to earn money and as you know keeping money in the bank do not yield interest why not invest your money on these platform.
My referral link: https://www.cryptomining.farm/signup/?referrer=5A79676F51A32
CONTACT: 07033325797 (ABORIGHO IS MY NAME) CRYPTOMASTER