Experts Answer ‘What Is Crypto?’ and More Top Googled Cryptocurrency Questions


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Whether you use it or own it or are totally against the movement, cryptocurrency has become ubiquitous in the global consciousness thanks to its rapid and widespread adoption. But new data indicates that many people are not yet familiar with crypto, although they are willing to learn.

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The study, conducted by CryptoWallet.com, looked at the most frequently asked questions about cryptocurrencies on the web, based on keyword search levels such as “crypto” and “cryptocurrency.”

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A CryptoWallet spokesperson told GOBankingRates that it’s fascinating to see how much people still don’t know about crypto, but also how much they are willing to learn about it.

“Today, cryptography is a topic that everyone has heard about at least once, even though most people don’t really know what it means,” the spokesman said. “There is skepticism, and many are unsure of how cryptocurrencies work. Although in reality, big brands like Gucci have begun to accept cryptocurrency payments to experiment with the market. And because of these changes, public opinion has begun to change, causing they wonder if there is more to this phenomenon that seems to be taking the world by storm. “

“What is cryptocurrency” and “what is cryptocurrency” were by far the most frequently asked questions, according to the data. So let’s delve into these questions:

What is cryptocurrency?

CryptoWallet explained that crypto is decentralized digital money that is based on blockchain technology, “which simply means that there is no authority to regulate and manage its value, which makes it different from fiat currency like pounds or dollars. Its transactions they are recorded in an open book that records transaction codes and is distributed among computers around the world (definition of a blockchain).

How to buy cryptocurrencies?

Another major research on crypto was “how to buy cryptocurrency,” the study revealed. “This is the second question a person may want to ask after understanding what is crypto,” the spokesman said. “This may be due to genuine interest in the matter and a plan to actually invest, or because they are delving deeper into the first question in search of more information to understand how the process works.”

CryptoWallet said the answer to this question is easier than many might imagine, as the cryptocurrency market works a bit like the stock market: buying individual cryptocurrencies is risky, as the market is constantly moving and not one day is the same as the other. . However, it can be a great investment if done with the guidance of experts who can calculate those risks and help you make informed decisions that can lead to interesting results, according to a press release.

As GOBankingRates previously reported, here are just a few steps you can take to buy Bitcoin or any other cryptocurrency:

  1. Find a way to buy Bitcoin. You must buy Bitcoin in a cryptocurrency exchange, such as Coinbase. You can also buy cryptocurrencies from traditional brokers, such as Robinhood.
  2. Find out how to store Bitcoin. You have to decide if you want to store your Bitcoin in a cold or hot wallet.
  3. Buy your Bitcoin. Buy the number of bitcoins you want using the one you found during the first step.
  4. Manage your Bitcoin. Manage this financial asset by making a long-term plan for it.

Why does Crypto fail?

Later in the study, “why is cryptography failing” was the next most searched question on Google.

“This is probably the most interesting of the questions, and the most current, as the news of the market crash is both new and old,” the spokesman said. “Also, this is a question that is likely to be asked by both newcomers and veterans looking for answers about what is currently happening with their investments.”

Again, as previously reported by GOBankingRates, whether or not to delve into cryptography is a matter for the minds of many people with cryptocurrencies. Although experts are divided on the subject, there is a recurring theme: proceed with caution and know your risk tolerance and the health of your finances. One of the biggest warnings when it comes to investing in cryptocurrency is to consider its extreme volatility and whether it is able to withstand wild changes financially and emotionally.

What is cryptographic mining?

Rounding out the most searched cryptographic questions on Google is “What is cryptographic mining?”

Cryptographic mining is how cryptocurrencies are generated. This happens when decentralized computer networks verify and safeguard blockchains, so new units are available for purchase and investment, CryptoWallet explained. Coinbase added on its website that in exchange for providing its processing power, network computers are rewarded with new coins.

“It’s a virtuous circle: miners maintain and protect the blockchain, the blockchain grants the coins, the coins provide an incentive for the miners to maintain the blockchain,” according to Coinbase.

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After the first couple of questions, the queries became more and more specific. The CryptoWallet spokesperson suggested that this may be because “cryptography is not as difficult and scary a subject as many make it out to be, and once you understand the basics, it’s pretty easy to get into it if you have the interest and patience to do it. ”.

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About the author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She has also served as senior vice president / writer for major New York-based financial companies, including New York Life and MSCI. Yaël she is now self-employed and most recently co-authored the book Blockchain for Medical Research: Accelerating Trust in Healthcare with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and another in Russian Studies from Toulouse-Jean Jaurès University, France.



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