As we see all around everyone is taking about cryptocurrency that has created its own market in short span of time and it is really giving us a lot of profit so, people are orienting towards this a lot. So, everyone needs guidance that how they can invest in it safely so they will not face any problem in future and can get the best profit from it.
According to an economic expert from all around the world, some are saying it is totally safe and some are saying that investment in cryptocurrency may be dangerous for your money. If you are going to invest in digital currency like Bitcoin then at first you should get proper knowledge and proper way to invest money.
Most people know about Bitcoin because it is most profitable digital currency at present, but the fact is that in the market hundreds of currency like Bitcoin is running and that is also a good source to earn money. Before making any kind of investment we should know about this properly that how it works?
Basic Concept of Cryptocurrency
It is just like share market where IPO is issued to gain fund to increase your company or organization and people buy your share in turn of money and that money is invested by the company and if the company got profit then profit will be divided between shareholders and if, company face lose then shareholders will also face loss. But Cryptocurrency is a bit different like in this, we don’t issue share but we issue a token and before releasing token, a particular company make their brief plan that how much money we have to gain by digital tokens and how we will invest it and how we will get profit from it. So, when the digital currency is issued then it called token and each token has the price. At the end of the Champaign if they meet with their target then they start work on their project and if, in any case, they don’t meet with their target then they will give the money back to their owner. If the project starts then according to profit, token value increases and we can sell or exchange our token at any time. We can also mine our currency any time with mining platform.
To make access to cryptocurrency, we need a digital wallet where we can keep our crypto coin or token. It may be wallet or exchange platform where we can make safe our currency. In this, we have two types of the key to a private key and public key. Each key is unique and using unique pattern of key structure that makes it more secure.
In the public key, it is just like bank account number that can be shared by us with anyone and anyone can send money to our account by using the public key. The private key is used by the owner to withdraw money from this account and it is like password of your account. It is basically used by us when we withdraw money by using paper wallet.
With the time cryptocurrency is becoming too much famous and demanded and investors are seeking for right currency that can give the best profit.
In cryptocurrency, the wallet is an online destination where we keep our digital currency such as Bitcoin. Here, we will discuss many kinds of wallet that is mostly used by people and most beneficial for us. Here, we will discuss three kinds of a digital wallet that is mostly used for the handle of the crypto coin.
# Paper Wallet
In this, we print our both public and private key on a paper. It should be kept safely by us and any kinds of the photo should also not be taken by us. Always treat it like cash money. We should always turn off our internet connection before printing on paper because if you are online then anyone can steal your data easily.
# Hardware Wallet
It is removable hard drive and counted as the most secure way to keep your cryptocurrency. It is an expensive method to store your crypto coin but the best way to make it highly secure. If you are having a large amount of cryptocurrency then you should always use hardware wallet.
# Digital Wallet
It is a best user-friendly medium that uses Application as web App or mobile App and you can access your account at any time. Most digital wallet App is online and we can access them by their web and App address.
Cryptocurrency Exchange Platform
Here exchange platform means where we can buy or sell cryptocurrency and digital currency. It is highly recommended that we should always keep our currency in the wallet and when we want to make exchange and trade then we should only exchange it.
How to send crypto between an exchange and a wallet?
On exchange platform selling and buying cryptocurrency is a very easy task. Here, you can easily sell and buy your coin by busing flexible and advance featured services. By using exchange medium, you can easily exchange your money into crypto coin and after successfully exchanging them; you can send it to your wallet by using your public key that works like your address.
Important Steps that Should Be Consider While We are Exchanging Our Cryptocurrency
# When we are exchanging our cryptocurrency then at first we should check it that your money is going to the right account or not. So, always in the first step send a small amount of money to check it.
# You should always use two-step verification for your wallet and exchange platform for making it advance secure. It will make your wallet highly secured and none another one will be able to use this.
# when we make any kinds of the transaction then it takes time because it has to passes from many modes and each node keeps your information, when all node meet with same information then the transaction will be completed otherwise it will fail. So, every cryptocurrency has own time like Bitcoin take 4 and Ether take 12. Sometimes it takes hours to complete its process so never worry about it. There are some services that make your transaction fast so, you can use them.
# Anytime you can also check your status by using the public key on exchange wallet and it will tell you, your current status.
So, after reading all above regarding digital currency, you can surely use cryptocurrency and can also make business in digital currency safely. Digital currency is going to be the currency feature that will surely work. The main reason behind its popularity is that it cannot be tracked by any government and organization so; people are taking more interest in it. It has also become a popular source of making money and security is also a helpful factor of it. If we make an investment in it with awareness then we can double our money in short span of time. Like when Bitcoin introduces then its value were 100$ and at present, it has reached to 17000 $ so, we can guess the profit in it. It is highly secured and the whole world is making the transaction in Bitcoin and earning a good margin. With the time, a demand for digital currency is increasing and more people are getting involved in it. So, you can also think to invest in it.
How Orion Infosolutions Playing a Vital Role in Cryptocurrency
Orion Infosolutions is playing a role like a king because it has huge and rich experience in digital currency development. At present other IT companies are thinking about to start work in cryptocurrency then Orion Infosolutions is very advanced in this field because it already developed Bitcoin Software, Application, Web and Exchange Platform that is liking by people a lot. So, we can say that Orion Infosolutions is leading IT company in cryptocurrency development.