This article describes all about cryptocurrencies, how they work, and how to invest in crypto as a Canadian citizen. You can also make your investment with the help of a crypto exchange Canada.

1. WHAT IS
CRYPTOCURRENCY?
HOW TO BEGIN YOUR
INVESTMENT WITH
CRYPTOCURRENCY
EXCHANGE CANADA?

2. This article describes all about cryptocurrencies,
how they work, and how to invest in crypto as a
Canadian citizen. You can also make your
investment with the help of a crypto exchange
Canada.

3. What is a cryptocurrency?
Cryptocurrencies are decentralized peer-to-peer
(p2p) digital currencies. With secure encryption
algorithms, forgery or double payment of money
is almost impossible. Cryptocurrencies are
decentralized because they are based on what
is known as blockchain technology. Blockchain
is a distributed, transparent, and very fast
distributed ledger that is immutable.

5. Cryptocurrency vs. fiat
Cryptocurrencies
For those who don’t know, fiat currencies are
government-issued currencies supported by the
government that issued them. Legal tender is
centralized. They are managed by the central
bank. The Canadian dollar is fiat currency, the
US dollar is fiat currency, and the Japanese yen
is fiat currency.

6. Inflation, supply, purchasing power, investment,
exports, imports and many other factors
influence the valuation of a currency.
Cryptocurrencies also share some of the same
elements as fiat money. Their value is based on
macroeconomic and microeconomic factors,
supply, purchasing power, investment and more.
Another similarity between cryptocurrencies and
government-issued currencies is that they can
be exchanged for goods, services and other
currencies.

7. What is a decentralized
currency?
Today, there are over 17,000 unique and diverse
Stablecoins and Altcoins, each with its own
unique characteristics, strengths, weaknesses
and values. A distinct feature of cryptocurrencies
is that they are decentralized, unlike
government-issued currencies. That is, it is not
issued by a centralized agency, agency, or
government. This means that cryptocurrencies
exceed government enforcement. Therefore, it is
very difficult to regulate cryptocurrencies.

8. What was the reason for creating the
cryptocurrency?
Initially, cryptocurrencies were a hedge against a
future economic crisis like 2008. Inflation is a
major problem in different parts of the world,
especially as pandemics are hitting different
parts of the supply chain and economy. The
government manipulates interest rates to
devalue or inflated currencies. These
governments and central banks have centrally
managed money, constantly printed or produced
it, controlled its distribution, and ensured that
transactions were legal and valid.

9. However, this same centralization has resulted
in 2.2 billion non-bank account people
worldwide. You are not allowed to have
something as simple as a bank account or get a
loan from a bank. It seems almost unfair. As
mentioned earlier, cryptocurrencies are
decentralized. There is no central government
agency that controls its supply, determines its
value and distribution, or controls its control.
Instead, it’s decentralized. Everyone on the
network has a say in how cryptocurrencies work.

10. Decentralization is what makes cryptocurrencies
very innovative.
They break through all possible barriers and
make financial instruments transparent, faster,
more reliable and more accessible. This is all
thanks to blockchain technology.

11. How to buy cryptocurrency with
Netcoins?
1. Create an Account with Netcoins
Provide some personal details and get verified in
minutes through our automated KYC process.
2. Fund (No Fees)
Fund your account with a cryptocurrency
deposit, Interac e-Transfer, online bill payment or
bank wire transfer.

12. 3. Start Trading
Maybe you want to know how to buy XLM in
Canada. You can Buy and sell as little as $10, or
up to $10 million with no slippage due to the
deep liquidity.
SOURCE CREDIT:
https://vancouvercryptoexchange.wordpress.
com/2022/03/07/what-is-cryptocurrency-how-
to-begin-your-investment-with-
cryptocurrency-exchange-canada/

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