Nowadays we are familiar with the word Cryptocurrency, though it an interesting topic to focus on, on the same hand, it has its own risk. If you have no idea about Cryptocurrency, then you should not invest in such things, even those people who have the idea of it gets afraid of investing in such projects.
Unless and until you don’t feel confident in this field then I suggest you to better stay out of it, but if you are someone who really wants to invest in Cryptocurrency, then you can get some basic ideas in this article.
In these present era, cryptocurrency has gained a huge amount of fame and its value are rising by every single day.
A digital account is required to hold a cryptocurrency, it serves like the wallet where you basically keep your money.
Every account is facilitated by two major features, a public key, and a private key.
The keys are a unique combination of codes which assigns you to keep your account secure in the digital environment.
The public key serves as your email address, which you give to everyone so that they can send you some required files and documents. In the digital world, the public key is used to carry out some transactions.
The private key must be kept secure since it allows you to access the account and to carry out some withdraw.
- Build a wallet
The wallet is something which stores your cryptocurrency. Some basic types of the wallet are:
- Paper Wallet
In this case, you print your keys on a piece of paper and store them in a secure place.
- Hardware Wallet
Though it’s a bit expensive, this advanced removable drive really helps you to keep your cryptocurrency secure. If you are someone dealing with a huge amount of cryptocurrency then you should try this out.
- Digital Wallet
These are the programs which we run on our desktop or mobile phone. Jaxx is a bit easy as well as mobile-friendly digital wallet, you should try it out.
Exchanges are those which involves the process of transferring the cryptocurrency.
One of the famous Canadian cryptocurrency trading platforms is Quadriga.
Canadians find Quadriga very easy to use, all you need to do is fund your account with fiat currency (dollars) so that you can buy some cryptocurrencies.
In Quadriga you will find many methods to carry out your trading carrier, all you need is to follow the instructions.
Though it takes some amount of time to carry out the transactions, it is still the best platform as remarked by the Canadians. It only takes some few days for you to register yourself as a user of Quadriga.
- Converting your cryptocurrency
We have found that Shapeshift works best while converting your cryptocurrency into another.
If you want to transfer you bitcoin into the ether, just add the public key where the cryptocurrency will be deposited after conversion.
If the transaction fails then just add the bitcoin public key and the amount will simply be refunded.
- Bitcoin cash from paper wallet
It’s actually very easy to redeem your bitcoin cash from the paper wallet.
Private key stores both bitcoin and bit cash. You need to create an account in BTC.com, go to settings and click on import external wallet.Now click on the simple private key then type your bitcoin address. After you click on Next, your bitcoin cash will be imported into BTC.com wallet. Now you can send Bitcoin Cash to the Shapeshift to exchange for anything else.
Hope this information was helpful for you if you have any queries then feel free to contact us. Drop your question in the comment section.
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