Money is generally accepted to be a means of exchange when transactions happen between two or more persons. It is also used in the settlement of debts. It can also be said to be the oxygen on which transactions thrive, the strength on which men ride, and the mine where valuables are mined.
Money has always exhibited and manifested itself as polymer, paper, metal, and all other forms as it pleases her environment; little did we know that money was coming in such a way that even the infants amongst us would spell it out like their first cry. The money came in a cryptographic pattern – Cryptocurrency.
CRYPTO-CURRENCY
Just like the pulmonary veins carry fresh oxygenated blood from the lungs to the heart, Crypto-currency has finally melted its way into the heart of every economy carrying around multiple currencies from the blockchains to the financial systems of the economy.
Crypto or Crypto-currency was birthed by presumably fictitious developer Satoshi Nakamoto through the use of a cryptographic hash function to invent the first decentralized cryptocurrency, Bitcoin.
Unlike the paper, polymer, and metal currency that we all are used to seeing, cryptocurrency is a digital currency that doesn’t exist in a physical form but a tradable digital form of money, built on blockchain technology that basically exists or is structurally designed to work as a medium of exchange and it is not reliant or dependent on any central authority (government or financial institutions) to control or maintain it.
Crypto-currency has multiplied greatly on the blockchain ever since its inception, the first of its type is Bitcoin and in no particular order as regards the context of this text, other crypto-currencies available are; Ethereum, Cardano, Dogecoin, Litecoin, Bitcoin Cash, Tether, Ripple, Binance Coin, Monero, Polkadot, EOS, Tron, Stellar, Ethereum Classic, Tezos, Dash, and many others.
BITCOIN MINING
Bitcoin mining is a systematic process of creating fresh bitcoin by solving computerized puzzles. Bitcoin mining has attained almost the same fame as gold mining and other natural resources. Bitcoin mining is carried out by quite a percentage of the world population; though it has birthed controversy because many people think it is not friendly to the environment.
Bitcoin mining over the years has become very refined with the adoption of sophisticated machinery to speed up operations.
BITCOIN HARDWARE
It is quintessential that a secure network is built around sensitive sectors of the economy (financial institutions, security channels, media houses), etc. to allow for a free flow of routine without abruptions (hackers and violators).
Your Crypto-currency is a mine of many resources that you wouldn’t want to witness its wreckage and that’s where Bitcoin hardware surfaces.
The hardware wallet is connected to your system (computer) when you desire to manage your funds. It is a highly secured wallet that allows the storage of funds offline.
CONCLUSION
Crypto or Crypto-currency has been regarded as one of the most or the most trending currencies in the financial world and has proven to be a source of tremendous income for every individual who is involved in it. However, as profitable as the business is, the lack of its knowledge and technicality could wreck one in just a second.
It is essential to have experts tutor and manage your cryptocurrencies in order to stay relevant and not lose your sanity. Mining is a key aspect that needs a complete understanding, the choice of mining hardware is important and the cryptocurrency mining equipment use is an integral part of successful crypto or crypto-currency exploration.
Crypto-currency can only get better and bigger, ensure you do not sit back watching the trend, sit up and mine in the way experts do.
Read also: what-are-bed-bugs-and-how-to-get-rid-of-them
