VR Kripto Academy
Cryptocurrency is a digital currency created digitally and secured using cryptography.
Let’s take a brief look at Cryptocurrency Academy contents together.
Start with us from scratch and delve into the riches of the crypto world.
Hello👋
Welcome to the Verified-Referrals Academy! Our mission is to introduce cryptocurrency exchanges and explain how to benefit from high discounts. Our website offers dozens of articles covering cryptocurrency exchanges, discount codes, and more. Additionally, we present these articles in four different languages.
With this carefully crafted guide for beginners in the crypto world, we’ll explore the topics of What is Cryptocurrency and How to Buy It.
You can spend time on our website to learn more about cryptocurrency exchanges and discounts. You’re in the right place to get started, and we are ready to embark on the exciting journey of the crypto world. We wish you a fantastic journey!
What Is Cryptocurrency?🤔
Brief Summary 😉
Cryptocurrencies are an exciting part of the digital world. Popular cryptocurrencies like Bitcoin are actually stored in a digital ledger, not digital wallets. Crypto wallets or exchanges are used to access these currencies. Cryptocurrencies are decentralized, transparent, and immutable. These digital currencies may become even more important in the future and offer a different perspective on the financial world.
Cryptocurrencies operate in a decentralized system, meaning nobody or government controls them. Transactions are visible to everyone, ensuring transparency. Once a transaction is recorded, it is immutable, meaning it cannot be reversed.
Why Is It Called Cryptocurrency❔
Cryptocurrencies are a term formed by combining “crypto” (meaning hidden) and “currency.” These currencies are secured through complex mathematical techniques, allowing only you to spend them, and others cannot access your money. You don’t need to dwell on the technical details, as applications handle everything for you. You can easily use and conduct transactions.
Bitcoin🪙
- So, what’s all the buzz about Bitcoin, the word on the lips of your friends and family?
Bitcoin is both the first and the most popular cryptocurrency to date. Surprisingly, no one knows who invented Bitcoin. All we know is the pseudonym of the person responsible, Satoshi Nakamoto. Satoshi could be an individual, a group of programmers, or, according to some peculiar theories, a time-traveling space alien, or even an intelligence agency from a government.
Not All Cryptocurrencies Are the Same❗
If you’re interested in learning about some different coins and tokens, Verified-Referrals has compiled a guide for you:
- What Is Bitcoin? (The King of Cryptocurrencies)
- What Is Ethereum? (Distributed Computing)
- What Is BNB? (The Original Exchange Coin)
Let’s Bump Up the Level ➕1️⃣
First, we need to understand what cryptocurrencies are. Cryptocurrencies are a digital version of traditional banknotes and coins. In other words, they are not physical like real money, so you can’t hold them or carry them in your pocket. Instead, they are stored through special software called digital wallets.
These digital wallets can be on your computer or your smartphone. Now, here’s an example: Let’s say we have two friends named Alice and Bob, and Alice wants to send 5 units of cryptocurrency to Bob. This is where digital wallets come into play. Alice sends 5 units of cryptocurrency from her wallet to Bob’s wallet, and this transaction is recorded in a digital ledger called the blockchain. This ledger records all cryptocurrency transactions and is viewable by everyone.
No Need for Permission
You don’t need to ask anyone for permission to use cryptocurrencies. Central payment services can freeze accounts, but nobody can block cryptocurrencies.
Resistant to Censorship
Due to the design of cryptocurrencies, it’s almost impossible to shut down or censor the network. Hackers or malicious individuals can’t easily incapacitate the network.
Cheap and Fast Payment Method
When you send money to a friend on the other side of the world, it can reach them within seconds. This is a very cost-effective option compared to the high fees associated with international bank transfers.
What is Blockchain? ⛓️
Blockchain is like a massive transparent ledger in the digital world. Everyone can see this ledger, and you can only add new things to it; you can’t change what’s already there.
Let’s explain this with an example: Imagine each page is like a page in a book, and these pages form a chain. Now, you can only add to these pages, but you can never erase something and write something else in its place. For instance, if you write on a page, “Ali sent 100 usd to Mehmet,” that information is permanent and cannot be altered.
Additionally, at the end of each page, there’s a kind of digital seal. This seal proves that the page is a continuation of the previous one. So, each page is based on the one before it, creating a chain. If you change information on a page, the seal of that page changes, and sequential pages are affected as well. This means that everyone can see this change.
Illustrative examples: If a person records a land sale on the blockchain, this record is visible worldwide and cannot be changed. This prevents fake records and enhances trust. Similarly, if you conduct a cryptocurrency transaction, it is permanent, and no one can reverse or change it.
Buy-Sell (Trade) 🛍️
First and foremost, you’ll find introductions to dozens of exchanges on our website, as you can see. Among these exchanges, there are discounted membership opportunities available. Initially, we explore the exchanges we have detailed with all the specifics. Then, in the exchange we prefer to use, we create an account with our membership codes offering the highest commission discount in Turkey. For example, you can create a membership with a 20% discounted fee at Binance exchange. If you wonder what this means, let’s illustrate it briefly.
For example, you created a membership with a 30% discount on Gate.io exchange. Let’s assume you bought any cryptocurrency, and this transaction is worth 10,000 USD. Many exchanges usually charge around 0.2% as a transaction fee, which means they typically take 200 USD as a commission. However, since you created a membership with a 30% discount, 30% of this amount will be refunded to you. This means you will have to pay 120 USD instead of 200 USD.
Crypto Investment Fundamentals and Strategies♟️
At first glance, you might think of cryptocurrencies in a way similar to a company’s profitability. However, cryptocurrencies are quite different from traditional investment instruments, and therefore, they require a different perspective.
Many Bitcoin investors have adopted the “HODL” strategy, which means they hold onto their Bitcoin for the long term. They believe that Bitcoin will be valuable in the long run and thus do not consider selling. Of course, this is a strategy and not suitable for everyone. Therefore, you should do your own research and formulate your own investment strategy.
Deciding to invest in Bitcoin or other cryptocurrencies is a relatively quick and easy process. You don’t need to invest large amounts to take your initial steps. Whether it’s 100 USD or a larger amount, you can start with whatever you’re comfortable with. What are some important considerations when investing in cryptocurrencies?
When you enter the world of investment, you should understand the risks and carefully think about your investment strategy. Any investment requires careful research and planning. In this time of rapid growth for cryptocurrencies, acquiring knowledge and building a solid foundation is essential.
The world of cryptocurrency can offer an enchanting journey, but it requires attention and care. We recommend you start your research and take a look at guides to make a good start. Good luck, and welcome to the world of investment! Enjoy our article “What Is Cryptocurrency? How to Buy It?”
- Hodl, is a strategy for holding cryptocurrencies for the long term. HODL stands for “Hold On for Dear Life” and aims to protect against sudden price changes of cryptocurrencies.
Passive Income: Easy Options💰
Cryptocurrencies offer a fantastic opportunity for more than just trading and investing – they also provide a means to generate passive income. Many people might not be aware of this, but now you are!
For instance, you can earn passive income by lending your crypto assets to others. Additionally, by using your cryptocurrencies to secure a network, you can earn rewards. This presents an opportunity to make money in the crypto world even while you sleep.
As one of history’s most successful investors, Warren Buffett, once said, “If you don’t find a way to make money while you sleep, you will work until you die.” However, the good news is that the world of cryptocurrency can offer fantastic opportunities for generating passive income. By putting your existing crypto assets to work, you can earn more cryptocurrencies.
Each option comes with its unique advantages and risks, so it’s crucial to choose the one that aligns with your goals and strategy. Earning passive income in the world of cryptocurrency has become more accessible and easier. Good luck! Let’s continue with our discussion of “What Is Cryptocurrency? How to Buy It?”
Staking: Running Your Cryptocurrencies🏦
- Staking is the process of “running” your cryptocurrencies to earn rewards. Let me explain with some examples.
Imagine that your cryptocurrencies can be used to strengthen the operations of a crypto network. It’s as if your cryptocurrencies are acting as “blockchain protectors,” rather than just sitting idle.
So, what do you get in return? Here’s an example: Let’s say you’re using your cryptocurrencies for staking and contributing to the security of the network. When it’s time to distribute rewards, you receive rewards in the network’s own cryptocurrency. This means that you earn more cryptocurrency by using your existing cryptocurrencies.
Staking allows you to do more than just hold your cryptocurrencies passively. It can also potentially increase the value of your cryptocurrency and contribute to making the network more secure.
Crypto Investment: Basics and Strategies♟️
The world of cryptocurrency represents a revolution that is radically changing finance and technology. However, predictions about the future of cryptocurrency largely depend on one’s perspective.
Some believe that Bitcoin will replace gold and change the current financial system, while others believe that cryptocurrencies will always be a secondary system and a private market. There are also those who believe that Ethereum will lay the foundation for the new internet as a decentralised computer.
Although there are many scenarios about what will happen in the future, it is difficult to predict even one year ahead. However, there is one thing that is clear for now: Cryptocurrencies have started to show their effects on many sectors and are likely to grow even more in the coming years. Despite the uncertainties, there is an exciting process about the future of crypto money. We continue to address the crypto world with crypto academy.
Privacy and Security in Crypto🔑
Why Is Privacy Important?👮
Why should you think about privacy? Because nobody wants everyone to know about their financial situation or transactions. Here are some reasons why privacy is important;
- Personal Security: You don’t want malicious individuals to get hold of your financial information. Privacy in cryptocurrencies protects you against such threats.
- Financial Privacy: Knowing how much everyone earns or spends is a private matter. Privacy helps safeguard this information.
- Freedom: Cryptocurrencies are independent of central authorities, and privacy is crucial to maintain this freedom.
How to Ensure Security?🔐
Now, let’s learn how you can ensure privacy and security with cryptocurrencies. Here are the simple steps;
- Use a Strong Password: Employ a strong password to access your crypto wallets. Ensure your password is complex and hard to guess.
- Use Cold Wallets: Cold wallets are devices not connected to the internet and keep your cryptocurrencies offline. This protects you from online attacks.
- Hide Personal Information: Avoid disclosing your identity on the internet. Be cautious about sharing personal information on social media and forums.