My name is Matt and I’m a crypto-enthusiast from Los Angeles, CA. I’ve been trading, investing, and mining cryptocurrencies for over six years now. While the cryptocurrency space can be very exciting, it’s also an exceptionally volatile marketplace that is filled with scammers and hacks. My goal is to help educate people who are new to cryptos and guide them in making smart investments.
I post weekly on my blog cool things you can do with cryptos such as some cool and novel ideas. I also write about what’s going on in the industry and try to stay on top of the latest trends. I hope you enjoy reading my blog!
If you’d like to learn more about me or my work, please feel free to contact me via email at: [email protected]
Cool Things You Can Do With Cryptocurrencies
If you like, you can think of a cryptocurrency wallet as something like a cash wallet. It is only used to receive, store, and send cryptocurrencies. On the other hand, it is not necessary to compare them because wallets are designed for digital currencies, which are different from paper currency in many ways. The first thing to know about cryptocurrency wallets is that these are very different from conventional wallets and bank accounts. A cryptocurrency wallet is not like a bank account where you can deposit money and get interest on it.
The second thing to know about cryptocurrency wallets is that they are designed to keep your private keys secure. The private keys are what allow you to spend your bitcoins or other cryptocurrencies. Without the private keys, you cannot spend your bitcoins. This means that if someone steals your private keys, they effectively own your bitcoins and there is no way for you to get them back. The third thing to understand about cryptocurrency wallets is how they work with exchanges.
Exchanges are platforms where people trade cryptocurrencies for other cryptocurrencies or even fiat currencies (like the US dollar). An exchange will have its own wallet where you can store your bitcoins or other cryptocurrencies while you wait for the right moment to sell them off for a profit. Many exchanges
So far, we have discussed 4 cool things you can do with cryptocurrencies:
(1) Trustless and instant financial transactions
(2) Trading cryptocurrencies
(3) Smart contracts (Blockchain 2.0)
(4) Investing in ICOs (Initial Coin Offerings)
So now we are going to talk about a novel idea that is currently trending in the cryptocurrency space. It is called Pi Network. This is an app that you can install on your phone and then you can mine for Pi coins for free! Yes, that’s right, no need to buy a mining rig which can cost thousands of dollars. You can download the app, login and start mining for free! Sounds great but how does it work? How does a company earn money if they give away all their coins for free? Well, I’m sure you know by now that nothing is free in this world but let’s dive deeper into this I hear some of you saying “No way! It’s too good to be true!” And yes there are some speculations that this could be a scam but let’s see what this new project is all about and then decide if it’s worth the risk or not.
There was an interesting discussion on a recent blog post about the fact that there are no good use cases for cryptocurrencies, or that they are not really useful to anyone. Not only did I disagree with this notion (I know of several interesting use cases), but I also believe that cryptocurrencies could be used in some really cool ways. My goal with this blog is not to dispel the myth that cryptocurrencies aren’t useful, but to showcase some of the cool things that you can do with them.
The first thing I would like to talk about is the idea of “cryptocurrencies as an incentive.” A cryptocurrency is a medium of exchange. It replaces traditional currencies like the dollar and euro. When a person wants to buy something, they can use their cryptocurrency as an incentive for others to help them get what they want. For example, you can use your coins to pay for goods and services online. The more people who accept your currency as payment, the more valuable it becomes.
The second thing I would like to talk about is how you can use cryptocurrencies as a way to store value. It’s very easy to send money around the world using Bitcoin or any other cryptocurrency. If someone wants to buy something from you, they don’t have to convert their money into dollars or euros
In this post, we want to share with you some of the coolest things you can do with cryptocurrencies.
A modern day version of a gold rush, cryptocurrencies are drawing in people from all walks of life, including many who have never invested in anything before, let alone mined for gold. The allure of this new digital currency is turning into an epic frenzy as the consequences of cryptocurrencies, or distributed ledger technology as it is called by some, could transform finance and business.
The first cryptocurrency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation with a total market value of $3.4 billion. Bitcoin’s success has spawned a number of competing cryptocurrencies, such as Litecoin, Namecoin and PPCoin.
Pi is a new digital currency that you can mine on your mobile phone for free. You can use it to buy or sell or trade for other cryptocurrencies. Pi was developed by Stanford PhDs and graduates, and one of its co-founders, Dr. Nicolas Kokkalis, is an Assistant Professor at the Technical University of Crete, Greece.
Pi runs on the same technology that powers Bitcoin, but with some crucial differences:
It doesn’t require expensive hardware to mine
It doesn’t consume huge amounts of energy
It isn’t available on crypto exchanges yet, so you can’t just buy it. You have to mine it.
This means that anybody who can get the app can mine Pi (if they are willing). And if you get 3 other people to download the app and sign up under you, then you will earn even more Pi! The more people who join your network and the faster you grow your network, the more Pi you will earn.