Blockchain Wallet – what is it? Let’s start with the basics. First of all, what is the blockchain? It is the database where cryptocurrencies are stored. Kind of like a giant spreadsheet, to put it very simply.
Second, what is a blockchain wallet? We’re all familiar with the traditional wallet – you know, the leather pocket-sized holder for your money, credit cards, and photos of your family. When you’re dealing with cryptocurrency, you need a wallet in order to store your cryptocurrencies, and conduct transactions such as buying, selling, and exchanging crypto. Instead of a leather wallet in your purse or pocket, it’s a digital wallet. It stores everything for you (except your family photos!)
Do you want to get started with cryptocurrency? Are you looking for the best way to upload cash (or FIAT) into Cryptocurrency, but not sure where to start? We use the blockchain wallet with Coinbase. Get set up now! The best way to learn is to jump in and get started. Additionally, you get $10 in bitcoin (BTC) when you join!
Blockchain Wallet Basics
By the way, since I mentioned FIAT – what is it? According to Investopedia, FIAT is currency issued by the government, and not backed by a commodity such as gold. For example, the U.S. dollar is a FIAT currency. FIAT currencies give the central banks more economic control, because they can control how much money is printed. On the other hand, cryptocurrencies, such as Bitcoin for example, are backed by the blockchain, and are not controlled by a central authority. Hence the term “decentralized.” These are just a couple of the basic terms you may hear as you begin exploring the world of the blockchain and cryptocurrency.
If the blockchain intrigues you, and you want to find out more – even how to mine FREE cryptocurrency, then go here for more information. Now is the time to explore the world of blockchain and cryptocurrency and how you can add it to your life!