Intrigued by the boundless opportunities to get rich by investing in the crypto currency world, but don't know how or where to begin your investment journey because it all sounds like Greek and Latin?
A good place to start would be to get acquainted with some of the basic terminology and jargon involved if not all, right off the bat.
You might've already heard some of these terms in common parlance; but when used in the crypto context, the meaning and value it carries might leave you surprised.
While there are hundreds of associated terms which can't all be decoded in one go, bear in mind the fact that learning even a few of these terms can serve as a guiding light to your pot of gold or crypto treasure.
Here's our first instalment of basic crypto-related terminology for you to get a better understanding:
1. Cryptocurrency
A type of currency that’s digital and decentralised. It can be used to buy and sell things, or as a long-term store of value.
2. Decentralisation
The principle of distributing power away from a central point is known as decentralisation. Blockchains are traditionally decentralised because they require majority approval from all users to operate and make changes, rather than a central authority as in the case of a banking system of a country.
3. Blockchain
A system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
A blockchain is a digital ledger of transactions that is duplicated and...
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