What is Cryptocurrencys?

Bitcoin is the main topic on this page, it's will make it simpler to explain.

There are many alternatives to Bitcoin....they are called "Altcoins", these are all the cryptocurrecys that have been created after Bitcoin such as Enthereum, Dash, Litcoin etc..... Some are well thought through and others are not!

Bitcoin was created by "Satoshi Nakamoto"... As far as Satoshi Nakamoto, his name is a pseudonym... Some people say he is just one person and others say he is a group of people working together...


Why do people think about Satoshi Nakamoto, because he or they made a paper and distributed on a mailing list for cryptography mailing list... Back in October 2008... You can read it here, In January of 2009 the network went live... As the network went live it took away power from the worlds government and their Central banks and put it into all mankind's hands... People like me help to make the network work and have it safe to use... I'm what is called a Bitcoin miner... to find out how it works go to  "How can I make money from Cryptocurrency

Bitcoins are broken up into to small amounts of bitcoin units which are called satoshi. Named in homage to bitcoin's creator, a satoshi is the smallest amount of Bitcoin representing 0.00000001 bitcoin, one hundred millionth of a bitcoin... There will only be 21 million bitcoins issued and about every 4 years the process of making Bitcoin will be cut in half... The way that Bitcoin is made is a process that is called mining...

In order to use bitcoin you'll need something that is called a "Wallet", you can have hardware wallets that are not connected to the network if you are concerned about your security and others you can have it in software... I use the software wallets because it's easier to use and you don't need to put down money to buy some hardware... plus they do have very good software most if not all use some kind of 2FA Code setup


In the picture just above you can see the line with the numbers and letters, they make up my wallet address... The QR code is the same, it's in the format... But it's the same address... To find out how to get your own address you can find out on the page that is called... "How can I buy/sell Cryptocurrencys"

If you send money to a family or friends (member) it will still take some time to clear something that is called the "BlockChain" in Bitcoin's case it takes 10 minutes per block and most of the time it takes more from one block to verify your transaction...

If you at all interested in finding out the price of Bitcoin today you can visit this page - https://cryptowat.ch/bitfinex/btcusd/1d it's set up to have a bar = a day!