Crypto TREND

Everybody has heard the way Bitcoin along with other crypto currencies are made millionaires of those who purchased as recently as a year ago. Gains of 1,000 percent or more aren't just possible, they've been common place with a lot of these crypto currencies. Someone who purchased Bitcoin at May 2016 at less than $500, could have had a gain of 1,400 percent in about 17 months. Then over the past couple of days, we saw Bitcoin lose almost $1,000, so to say these crypto currencies are volatile could be a massive understatement.

Since the beginning of Bitcoin at 2008, we at Trend News have already been skeptical about Crypto currencies' ability to survive, they present a very clear danger to governments that wish to see and taxation all transactions. However, while we might still be cautious on the true crypto currencies, we're extremely aware of the possibility of this underlying technology which powers these digital currencies. In reality, we think this technology is going to be a significant disruptor in the way information is managed, and it is going to impact every sector of the global market, much like the way the internet impacted media.

Below are some questions & answers for us started...

The most well known crypto money (CC) is BITCOIN. Nowadays there are over 800 CC's, such as Ethereum, Litecoin, Dash, Zcash, Ripple, Monero, and they're all "virtual". There aren't any "physical" coins or money.

Q: How can CC's work?

CC's are virtual currencies which exist in very large distributed databases. Because each Blockchain database is broadly distributed, it is regarded as resistant to hacking, as there is not any central point of assault and each transaction is visible to everybody on the community. Every CC has a group of administrators, frequently called "miners", who affirm transactions. 1 CC named Ethereum uses "smart contracts" to confirm transactions. Crypto TREND provides more details in upcoming news publications.

Blockchain is the technology which underpins all CC's. Each transaction for the purchase, sale, or trade of CC's is entered to a BLOCK that is added to the series. This technology is complex and won't be explained, however, it has the capability to revolutionize the financial services industry, as transactions can be executed quickly and easily, reducing or eliminating fees. The technology is also being analyzed for applications in a number of different industries.

Q: Why Are CC Exchanges regulated by authorities?

It is the "wild west" right now, but governments in most developed countries are analyzing this marketplace to choose what regulation could be required. Canada and USA have so far announced that CC's are lawful, no matter how the situation remains fluid as for reporting and taxation implications.

You may purchase, sell, and swap CC's using the services of specialized "Exchanges" which work as a broker. You start with selecting an Exchange, setting up a account, and transferring fiat money in your account. After that you can put your BUY and SELL CC orders. There are lots of exchanges across the world. Opening an account is rather simple and these exchanges have their own rules about first financing and withdrawals.