This document is all bout cryptocurrency, the pros and cons etc.

1. Crypto-currency- an introductory guide for
the beginners
Summary
Instead of a real piece of physical currency, a cryptocurrency can be said as a digital asset that
can be exchanged. The “crypto” part comes from the term cryptography, which is used for
security and verification purposes during transactions. Cryptocurrency can be used for a number
of purposes like investment, mining, buying things etc.
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Usually, cryptocurrency transactions are processed and completed via the medium of block chain
networks, which are designed to be decentralized. So every computer linked to the network must
successfully approve the transaction before it’s able to be processed. Preferably this creates a
safer transaction for stakeholders.
Cryptocurrency transactions are put into a “block” and the networking computers get to work to
solve a complex mathematical problem. Once the problem is solved, the solution is exposed to
the others on the network, and if the whole network agrees that this solution is correct, that block
is added to the chain and the transaction is completed.

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A cryptocurrency is a medium of exchange designed to work as digital or virtual currency that
uses cryptography to secure and verify transactions. It also controls the creation of new units of a
specific cryptocurrency. Basically, cryptocurrencies are restricted entries in a database that no
one can alter unless particular conditions are fulfilled.
How can you use cryptocurrency?
1. Buy Goods:
Today, there are a lot of both online and offline merchants that accept Bitcoin as the form of
payment. There are huge online retailers like Overstock, Newegg and small local shops, bars and
restaurants that use this currency. Bitcoins can be used to pay for flights, hotels, jewelery,
computer parts, apps, and even for college fees.
However, other digital currencies, such as Ripple, Litecoin, Ethereum etc. are not accepted
widely yet. But things are changing with Apple having authorized almost 10 different
cryptocurrencies as a viable form of payment on App Store.
2. Investment:
Bitcoin is the most familiar digital currency to date, and just in November 2017, the price of one
Bitcoin exceeded $7,000. Ethereum is another most valued cryptocurrency that has demonstrated
the fastest rising digital currency growth. When it comes to all cryptocurrencies, their combined
market soared by more than 10,000 % since mid-2013.

3. However, cryptocurrencies are high-risk investments as their market value fluctuates very often
and it is partly unregulated.
3. Mining:
Mining is an investment and miners are the single most significant part of any cryptocurrency
network. Basically, miners provide a bookkeeping service for their individual communities. They
solve complicated cryptographic puzzles by contributing their computing power. This is essential
to confirm a monetary deal and record it in a distributed public ledger known as the Blockchain.
4. Accept as payment for business:
Accepting cryptocurrencies is like accepting the cash as payment. The number of crypto-ATMs
located around the world has also grown. For example, coin ATM Radar presently lists almost
1,800 ATMs across 58 nations. There are various services such as, Coin Payments, Cryptonator,
CoinGate and BitPay that can be used to accept payments in cryptocurrencies.
Common cryptocurrency examples:
 Bitcoin
 Bitcoin cash
 Ethereum
 Ripple
 NEM
 Litecoin
 NEO
 IOTA
 Qtum
 Dash
 Monero
How to store cryptocurrency?
Cryptocurrencies are digital currencies that need an entirely different approach for storing.
Technically, it’s the private key, used to sign for transactions that need to be securely stored.
How to buy cryptocurrency?
There are a number of different options for buying Bitcoins. For example, at present there are
almost 1,800 Bitcoin ATMs. Moreover, BTC can be bought using gift cards, cryptocurrency
exchanges, investment trusts and even trading face-to-face.

4. Key points
How can you use cryptocurrency?
1. Buy Goods:
Today, there are a lot of both online and offline merchants that accept Bitcoin as the form of
payment. There are huge online retailers like Overstock, Newegg and small local shops, bars and
restaurants that use this currency. Bitcoins can be used to pay for flights, hotels, jewelery,
computer parts, apps, and even for college fees. Apple having authorized almost 10 different
cryptocurrencies as a viable form of payment on App Store.
2. Investment:
Bitcoin is the most familiar digital currency to date, and just in November 2017, the price of one
Bitcoin exceeded $7,000. Ethereum is another most valued cryptocurrency that has demonstrated
the fastest rising digital currency growth. When it comes to all cryptocurrencies, their combined
market soared by more than 10,000 % since mid-2013.
However, cryptocurrencies are high-risk investments as their market value fluctuates very often
and it is partly unregulated.
3. Mining:
Mining is an investment and miners are the single most significant part of any cryptocurrency
network. Basically, miners provide a bookkeeping service for their individual communities. They
solve complicated cryptographic puzzles by contributing their computing power. This is essential
to confirm a monetary deal and record it in a distributed public ledger known as the Blockchain.
4. Accept as payment for business:
Accepting cryptocurrencies is like accepting the cash as payment. The number of crypto-ATMs
located around the world has also grown. For example, coin ATM Radar presently lists almost
1,800 ATMs across 58 nations. There are various services such as, Coin Payments, Cryptonator,
CoinGate and BitPay that can be used to accept payments in cryptocurrencies.