What is flutter filters?

What are digital currencies?

Digital currencies or electronic currencies are virtual currencies that are traded through the Internet, and perhaps the most famous of them is Bitcoin. And it took its fame due to the 4 advantages of fast conversion speed, low cost, privacy preservation, and decentralization.

Digital currencies have captured the mind of some, aroused fear and panic for some, and caused concern for some, but the important thing is that everyone agrees that digital currencies are a technological revolution that will change the shape of money in this world, and it will affect the largest and most important financial institutions in the world and the way they work.

We will address in order:

1- Digital currencies, cryptocurrencies, cryptocurrencies or bitcoin

2- How do digital currencies work?

3- What are the most famous and best digital currencies?

4- How to invest in digital currencies?

That's all you need to know about digital currencies ...

Digital currencies and cryptocurrencies

Unlike fiat currencies and coins, digital currencies are intangible currencies!

This means that any intangible currency that the individual cannot feel is electronic currency, and this means that the money in credit cards, and the money that is sent and received through electronic banks is considered an electronic currency system, but if it is touched and felt it becomes normal currencies. as it's known.

In English, it is called Cryptocurrency and it is divided into two syllables, the second syllable is the currency of the currency, while the first syllable is the word Crypto, which is an abbreviation of the word Cryptography, meaning cryptography.

A person can obtain Bitcoin, for example, in a process called Bitcoin mining.

In another definition, digital currencies are digital assets designed to act as a medium for the exchange of funds or anything of value in the so-called economic process (transaction), and depend on cryptography to secure these operations, and to control the addition and deletion of units, and finally to document and verify the validity of these Processes.

Digital currencies are like paper and coins in their ability to purchase with them all physical goods and services

There are many electronic currencies on the table now in the forex market, and the matter is increasing hysterically, as a result of the law of supply and demand, as the price of Bitcoin for example in December 2017 exceeded 17 thousand US dollars, and since originally the number of bitcoins that can be produced is 21 million A unit only, makes it competitive as a currency or a product to be traded by the general public.

How do digital currencies work?

Digital currencies, specifically Bitcoin, are decentralized currencies, meaning that no government or institution can control the production of more of them.

But how is digital currencies controlled?

Digital currencies are controlled by a technology called blockchain.

And blockchain was defined in the book (The Blockchain Revolution) by writer Don Tapscott and his brother as an electronic book of accounts that cannot be tampered with for economic transactions that can be programmed not only to record financial transactions, but to everything that has value.

Meaning that every economic or financial transaction that occurs on the system is recorded and encoded in a block, and linked to other blocks to form the blockchain, you understand the matter ?!

The digital currency system or the Bitcoin system, which is a decentralized system to send and receive money, is characterized by

1- High speed, in which the money you want is transferred in less than seconds, unlike the traditional banking method that takes days.

2- The very low cost, as the cost of transferring money in Bitcoin is almost free or negligible.

3- Protection and transparency, as every economic or financial process is saved in a block and distributed to millions of computers around the world, which makes the process of penetrating it practically impossible, and the financial process is done in front of the whole world, which makes attempts to manipulate it impossible.

4- decentralization, i.e. not affiliated with any central bank.

The way cryptocurrencies work makes them very unique against traditional systems in financial transactions, whether online or in real life.

Now you know what digital currencies are, how they work, and what makes them an innovation of the era, but you do not know what are the most famous and best digital currencies?

The most famous and best digital currencies

In 2009 the first electronic cryptocurrency appeared at the hands of Satoshi Nakamoto, and this currency is called "Bitcoin".

Bitcoin is the most famous currency in the world of electronic currencies, which all investors are advised to trade in against other currencies, and it is the highest in terms of market value.

In 2011, Charlie Lee, a former engineer at Google, invented a coin called LTC, which appeared as an alternative to Bitcoin, but it was not able to displace Bitcoin from its place and there is no other currency that was able to do this, although it is very close to Bitcoin.

In 2013, one of the most famous digital currencies appeared, Ripple, which ranks third in the world of digital currencies in terms of liquidity. Ripple is different from Bitcoin, as the second wants to replace the traditional banking system, and the first does not want to cancel it. You want to support him!

To understand Ripple in a simple way, David Schwartz, chief analyst for Ripple, explained this:

“Payment systems today are what e-mail was like in the early 1980’s. Each provider built their own system for their customers, because if people used different systems they would be able to easily interact with each other. That’s why the Ripple coin network was designed to connect different payment systems. With each other. "

In January 2014, Evan Duffield produced the Dash coin, a digital currency that is considered a more secret version of Bitcoin, while in April 2014, the digital currency Monro was produced by its work team, and in the same year the Chinese government launched the digital currency Neo for Strengthening the Chinese economy.

In 2015, the Russian programmer Vitalik Buterin invented the second most famous and best cryptocurrency ever, the currency of Ethereum, Ethereum as a virtual or digital currency and a decentralized platform at the same time! Ethereum as a digital currency is understood and what it is, while as a decentralized platform, it is very important and dangerous!

Ethereum threatens the government’s work function, as this system allows creating smart contracts in a way that mimics traditional contracts, and makes sure that all contract clauses have been fulfilled and ensures that no condition of the contract is violated, which is precisely the role of the authority in real life.

This was a detailed list of the most famous digital currencies around the world, so let's review them quickly:

1- Bitcoin, the most famous cryptocurrency in the world, and the size of the Bitcoin market is approximately 233 billion US dollars.

2- Ethereum, the second most popular digital and virtual currency in the world, and the size of the Ethereum market is approximately 46 billion US dollars.

3- Ripple, which is considered the third most important and famous electronic currency in the world, and the market size of Ripple is approximately 11 billion US dollars.

After that comes the rest of the digital currencies

Perhaps now you want to know exactly how to invest in digital currencies?

Let's find out with each other exactly how to invest in digital currencies.

Selling, buying, trading or investing digital currencies (Bitcoin, Ethereum ...)

There is no doubt that investing in digital currencies such as Bitcoin, Ethereum, Ripple and others, is an enormous investment opportunity.

Here are 4 steps to start buying and selling Bitcoin and other digital currencies:

1- Choose the digital currency in which you would like to invest or trade in it.

2- Open a Bitcoin wallet or a digital currency wallet according to the digital currency you want to invest in.

3- Get your first digital currency by exchanging with a broker.

4- Start trading