Crypto Innovation

How one can make a fortune out of cryptocurrency by following the crypto innovation. First, you need to know what cryptocurrency is. 

Traditional Money Exchange:

With changing times currency has changed too. From 1600 AD till now, we have been using paper notes and coins as a currency (which is changing, again). This flow of money is regulated by the government (mainly) or Privatized organization, The Bank.

 A bank is a place where we store our currency/money. All transactions have to go to them (bank) first then they will come to you. They overlook every tiny transaction you make, and there can be times when your payments are stuck. It can be a technical error, account hacking or some other malfunction.

Working with banks used to be easier but has become a little bit troublesome with the digital age. People prefer making online payments rather than physical. This newfound way of currency exchange needed a better flow; to complete the puzzle of the digital age, the Cryptocurrency Ecosystem came into existence.

There are many Cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin and many more.

Currency exchange in a Cryptocurrency Ecosystem:

If you are making a transaction with Bitcoin. First, it would not be going to any central authority. It can not be copied and hacked. Cryptocurrency is protected by strong and complex algorithmic encryption.

Every transaction that you make is stored and protected in a blockchain. Just the way a bank would keep it but is more secure and complex. Block with a piece of new information regarding it will be added to the blockchain. Miners help to add these blocks to the chain by solving complex mathematical problems. The one to solve it first will add the block to the chain.

You buy these coins at a certain rate according to the National Currency you use. To buy coins, you need to create an account and complete your KYC to unlock your wallet for the crypto exchange. You can withdraw cryptocurrency from your wallet to your bank accounts. 

How the value of a Cryptocurrency Change:-

The price of cryptocurrency is determined by its demand in the marketplace. The higher demand will have a higher rate/price. If the token supply is high but demand is low, the value of your coin will decrease automatically. This increase and decrease are in percentages.

Suppose you have seven bitcoins, and each coin holds a value of 80 INR. One day you see an increase of coin rate by 150%. It would mean that your coin, which had a value of 80 INR, has changed to 12,000INR. It is simple Mathematics multiply the value of your coin value by the increased percentage. You bought seven coins at 560 INR, that amount has increased to 84000 INR, leaving you with a profit of 83,440. 

How To Know The Flow Crypto Marketplace:

The rate of cryptocurrency changes with the changing number of users buying it. As it requires speculating, building, pondering, networking and finding the right coin to invest in is not that easy. As a newbie, you must choose a coin with good market value and a good and constant flow of percentage increase.   

Stay updated with crypto news channels and social networking sites to know the flow of the crypto marketplace. Numerous channels and platforms were introduced to make the crypto exchange easier. These platforms are helpful to keep you updated with every slight change.

Latest Update of Crypto: 

NFT Lootbox is a new concept, NFT stands for Non-fungible Tokens. These tokens do not hold a value like a crypto coin but are an asset in themselves. These tokens are assets like paintings, photographs and many more (in a digitized form). You can access NFTLootbox by simply connecting their wallets to the system.

Just the way we have a limited amount for every cryptocurrency, NFTLootbox has a token limit of 40,000. These token are divided into groups, as follow

10,000 Team and Unsold Tokens locked for a year

5,000 Tokens have been added to Uniswap and locked for a year

8,000 Tokens reserved for Marketing and Development

17,000 Tokens sold during the presale 

Crypto has changed many things and will keep on changing more. It will modify while taking along an entire generation and coming ones too. New trends and new ways will keep on coming along the way.