Blockchain: the basics of cryptocurrency
The blockchain is a record-keeping technology that allows for the storing of information, including financial information, in a public database.
In this case, the stored data is referred to as blocks while the database is known as a chain.
What is cryptocurrency?
For anything to be called a currency, it must be accepted as a medium of exchange by a group of people. For example, the US dollar is generally accepted in the US.
In the same vein, cryptocurrencies such as Bitcoin, Litecoin, and Ethereum have gained acceptance as a medium of exchange worldwide.
How does cryptocurrency trading work?
Trading cryptocurrency on a platform like Deriv.com is like trading other financial markets such as forex, stock indices, and other financial instruments. All you have to do is predict cryptocurrency price movements.
You win when your speculations are correct. You don’t need to own a crypto asset to be able to trade and earn profits.
