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About coins
Cryptocurrency is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Bitcoin BTC
Bitcoin (English bitcoin; BTC, XBT) is a decentralized electronic payment system, the concept of which was published in 2008 by Satoshi Nakamoto and implemented by him as open software in 2009. Later, such systems began to be called cryptocurrencies.
Bitcoin has no centralized management and no issuers. Transactions with a digital signature between two addresses are transmitted to these nodes of the peer-to-peer network, and the data about the movement of bitcoins is stored in the blockchain, a chain of cryptographically linked blocks, which, once created, is very expensive to change or forge. Cryptographic methods are used to prevent the possibility of spending other people's bitcoins because of double use of their own.
Litecoin LTC
Litecoin (from English Lite - "light", English Coin - "coin") is a fork of Bitcoin, a peer-to-peer electronic payment system that uses the cryptocurrency of the same name.
The creation and sending of Litecoin is based on a protocol without centralized administration based on Bitcoin technology. The program has an open source code.
Litecoin was conceived by the developers as an evolution of Bitcoin and has a number of differences from it. As of October 18, 2015, 1 LTC was worth approximately 3 USD on the BTC-E exchange and was the second largest cryptocurrency by market capitalization in the world. Litecoins can be used to exchange for bitcoin or regular money at exchangers, as well as to pay electronically for goods and services at merchants willing to accept them.
Ethereum ETH
Ethereum (from the English Ether - "ether", ETH code), Etherium, (often simply "ether" or "ether") is a cryptocurrency and a platform for creating decentralized online services (DApps) based on the blockchain, which work on the basis of smart contracts Implemented as a single decentralized virtual machine. The idea was formed by Vitalik Buterin in 2013. ETH is the native currency for the Ethereum platform and also works as a transaction fee to miners on the Ethereum network.
Ethereum pioneered the use of blockchain-based smart or intelligent contracts. When running on the blockchain, a smart contract becomes like an independent computer program that automatically executes when certain conditions are met. On the blockchain, smart contracts allow code to run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. It can facilitate the exchange of money, content, property, shares or any other value.
The Ethereum network went public on July 30, 2015, with the release of the first 72 million Ethereums. Because Ethereum greatly simplifies and lowers the cost of blockchain implementation, it is being implemented by both major players such as Microsoft, IBM, Acronis, Sberbank of Russia, the R3 banking consortium, and new startups.
Tether USDT
Tether (symbol ₮) is a cryptocurrency token issued by Tether Limited, which claims that its value is 80% backed by US dollar reserves in bank accounts or their equivalent. The main idea of the developers of this token is to provide participants of the cryptocurrency market with the opportunity to use a stable digital asset ("stablecoin"), the rate of which is tied to the rate of the US dollar and does not experience such strong fluctuations as the rates of other cryptocurrencies. Tether is released on the Omni Layer platform, which is a superstructure on top of the Bitcoin blockchain.
eCurrency ECR
eCurrency - the main cryptocurrency of the Mercury community, which will gradually become the core of all projects and the internal economy of the community
eCurrency (ECR) is a self-financing decentralized cryptocurrency designed to facilitate international B2C and B2B transactions. The independence of the ECR blockchain ensures fast transaction speeds and zero fees for today's, tomorrow's companies and their customers.
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FAQs
What is cryptocurrency?
A cryptocurrency is a digital or virtual asset that uses cryptography to enable secure financial transactions and control the creation of new units. It is based on blockchain technology, which allows for the creation of a decentralized system independent of centralized financial institutions such as banks or central banks.
What are the benefits of trading cryptocurrencies?
Cryptocurrencies can have significant potential to increase in value over a short period of time. This enables investors to earn large profits in the cryptocurrency market.
Cryptocurrency trading is possible from anywhere in the world with Internet access. This opens up investment and trading opportunities for people from all over the world.
Compared to traditional financial markets, commissions on cryptocurrency exchanges can be significantly lower, which allows you to reduce trading costs.
Blockchain technology, on which most cryptocurrencies are based, has the potential to revolutionize various fields such as finance, medicine, logistics, and more.
Some cryptocurrencies provide the ability to make anonymous and confidential transactions, which can be important for many users.
Risks associated with investing in cryptocurrencies
Cryptocurrency prices can change significantly within a short period of time. This volatility can result in significant losses or gains for investors.
Most cryptocurrencies are not yet regulated by government authorities, which can lead to a high level of uncertainty and risk of loss.
Cryptocurrencies are at risk of cyber-attacks that can lead to the theft of miners, exchanges or digital wallets.
Problems with the technical architecture of cryptocurrencies, such as flaws in protocols, can lead to the loss of funds or other problems.
As in any market, there is a risk of price manipulation of cryptocurrencies by artificially inflating or undercutting prices.
Losing access to your wallet or private key can result in the irretrievable loss of all invested funds.
What factors affect the price of cryptocurrencies?
The popularity of a cryptocurrency among investors and the general public can significantly affect its price. If the demand for a certain cryptocurrency increases, its price usually increases as well.
The amount of cryptocurrency available in the market also plays an important role. An increase or decrease in trading volumes can affect its price.
Technical aspects such as technical analysis, indicator readings and trading algorithms can affect the level of supply and demand, which in turn affects the price.
Why are cryptocurrency prices so volatile?
The cryptocurrency market is relatively small compared to traditional financial markets such as forex or the stock market. This makes it more vulnerable to large price swings from even small trading volumes or news.
Most countries have yet to adopt a clear regulatory framework for cryptocurrencies, leading to great uncertainty in this market segment.
Many people invest in cryptocurrency with the goal of making a profit in the short term, which can lead to intense price fluctuations. Psychological factors such as emotions and fear can also affect cryptocurrency prices.