First described in 1998, the concept of Cryptocurrency was something completely unknown 21 years ago, a Science Fiction idea almost that proposed to create a new type of decentralized money, one that used Cryptography as a control system. But it wasn’t until 2009 that a developer named Satoshi Nakamoto — though that’s not his real name — created the first cryptocurrency: the 21st-century Bitcoin.eCash.
Digital currency or digital money on the Internet is a medium of exchange distinct from real money that possesses properties similar to physical currencies and allows instant transactions and transfer of property without borders. They can be used to buy physical goods and services, although they can also be restricted to certain communities such as within a social network or online games.
Digital currencies like bitcoin are known as “decentralized digital currencies,” which means there is no central point that controls the money supply. Something dangerous, since cryptocurrencies are very risky due to their high volatility, and if today they are worth fortunes such as 1,200 real dollars for 1 Bitcoin, tomorrow that same price may fall 50% to $ 600 per Bitcoin to give you an idea. To carry out procedures, a virtual wallet or wallet is necessary, which we access through an application or our web browser. Get CryptocurrenciesStep 1 – Create a Wallet
As the OSI, the Internet Security Office of Spain, tells us, to obtain cryptocurrencies and trade with them you need a digital wallet or “wallet”. This replicates a real wallet and has the function of storing the cryptocurrencies, allowing its user to transfer them, as if it were a bank transfer. Let’s create a wallet of the most common cryptocurrency, Bitcoin, to see what steps need to be taken:
After these steps you will be able to have already made an online wallet to start sending and receiving cryptocurrencies safely. Now, your bitcoin address can be found on the “My Addresses” page. Step 2 – Get Cryptocurrencies
Now that you have a wallet to store them, you can search for them, buy them or create them yourself. For greater security, they are usually encrypted, so to use them we must create a strong password and never forget, since it is the only one with which we can access our cryptocurrencies – in fact we have cases like the man who created a wallet for users and died without revealing the password to the rest of users, that had put up 190 million dollars in Bitcoin. To get or create cryptocurrencies there are several ways: