Topic: How can you explain cryptocurrency in a simplest way? (Read 239 times)
In my own understanding, cryptocurrency is a global currency for everyone but not under the control of anyone.
Easy. To make it simpler and more non jargon to newbies. Cryptocurrency is a currency (meaning has a value) without the actual physical money that can be touch. It’s just numbers that are equivalent to a value of the currency. AND YES, this can eliminate physical money in the long term future. Save some time, save some materials, it can also save trees if that makes sense. And here in our community, we call crypto as the future of money.
You could describe Bitcoin as a virtual currency--no physical cash or coins. Funds are exchanged peer-to-peer on a "blockchain" which is basically a giant ledger for recording and storing transactions.
I believe that the best way to explain cryptocurrency to anyone is to demonstrate them the actual transaction and comparing it with the email system because most of us are familiar with how email works but we are not aware of the secret sauce is behind it. Similarly, one should have basic knowledge about using cryptocurrencies and responsibilities while using it and it is not required to explain about Satoshi or the mining procedure. I have observed that keeping it simple, increases the response rate and curiosity about it.
Cryptocurrency in the simplest way, words and explanation.
It's a digital currency that doesn't have stable value but some does have which you can use as an alternative pay system to your favorite goods online.
It's a digital currency that doesn't have stable value but some does have which you can use as an alternative pay system to your favorite goods online.
I think I can explain bitcoin in simplest way in saying or comparing bitcoin in other business venture. Because in doing bitcoin you are like doing business. You are thinking and doing some strategies to make your business alive. And like business you need to invest not only money but also a time and effort to make your business successful. We can also explaine business as a goals or dreams. Because bitcoin will be the great instrument to achieve all your dreams in short period of time. It is easy to understand if the listener are open minded but if not even the greatest teacher will not teach them.
If I could explain cryptocurrency to other people in my simplest way possible it would be cryptocurrency is a digital asset in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds and it is NOT dependent on banks worldwide. Cryptocurrency can provide an outlet for personal wealth that is beyond restriction and confiscation to other people if studied right and invested in a right way.
A digital currency that doesn't govern by a country or any banks.
For analysis, it is very complicated. But I personally think simple. cypto is the future of the deal. It does not look right but it is my thoughts
Cryptocurrency is a virtual currency that is confidential where the transaction is invisible and secure. This digital currency has an exchange rate against a conventional currency. Cryptocurrency has the same functionality and usability as conventional currency, it's just that cryptocurrency has no physical form. But both have the same function. Cryptocurrency also has value that can be used for transactions and the exchange rate of fluctuating cryptocurrency means unexpected. This can be used as trading.
Well i am new and i am only knew that cryptocurrency is another term for digital currency that works like gold and has its own price that is volatile. I think that is all i know about cryptocurrency and it is difficult to give an answer which i do not really familiar with since i am still conducting a lot of reading and studying about cryptocurrency.
If you have to explain what cryptocurrency should prove you can convince them, as soon as you withdraw you should show how you can withdraw because of cryptocurrency and should also tell you that with you it will help you to make it easier he understood.
To spread cryptocurrency even more famous then we must really convince them so that they can understand and follow it because in every explanation we are needed to introduce cryptocurrency let alone ryptocurrency or bitcoin is actually in our hands.
For me cryptocurrency is a new way of money that can be used in our era like the real money. It is a money on the internet, and tell them the difference of money and bitcoin,tell them that bitcoin is appreciating while money depreciates. And cryptocurrency is a virtual currency that can be used for many things for transaction, trading, and even to invest. cryptocurrency has its own value that can be used for trading by traders. Bitcoin as a currency which has an especific exchange in any monetary value that a country has.
Crypto Currency is kind of share
The simplest way to understand bitcoin or cryptocurrency is make the understand that bitcoin or any other currency is a money. I think as a beginner they will have many questions on their mind , they might even think that bitcoin is so complex and hard to understand. To make it simple it will be better to make them understand that this is a money on the internet, and tell them the difference of money and bitcoin,tell them that bitcoin is appreciating while money depreciates, or if the beginners have the knowledge about stock market , you can make it as a guide, because bitcoin's value just like stock market depends on the volume or the holders of stock.
I can say in simplest words : bitcoin is a digital asset that is tradeable, and decentralized
Well thats a great choice of words, well for me I will explain Bitcoin as a currency which has an especific exchange in any monetary value that a country has. Well Bitcoin forum is a transparent forum in which digitally related programs were allowed to promote and gather workers for them to gain customers who might be interested to the product or service that they are introducing, I guess as a ordinary consumer you can have the idea what is Bitcoin all about, furthermore how it works will be different and a lot more complicated.
Just like money, But it rises and falls in price. Unlike money what price it is today, tomorrow and that still the next day. So the advantages of bitcoin are because we're investing money with growing.
I will have to define cryptocurrency as a simple, digital currency that is decentralized and depends on a network of users for verification and successful transactions.
just say it's "cryptocurrency" - abstraction as it is lol
If you have to explain what cryptocurrency should prove you can convince them, as soon as you withdraw you should show how you can withdraw because of cryptocurrency and should also tell you that with you it will help you to make it easier he understood.
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