Are you new to the exciting world of cryptocurrencies? Are you seeking information and tutorials, but having trouble finding them all neatly summarized in one place on the internet? You’ve came to the right place! This is an introduction and outlines all the different cryptocurrency courses and articles/tutorials that make up Pandacoin’s Crypto Crash Course.
If you would like to learn about cryptocurrencies and Pandacoin, you’ve come to the right place! The Pandacoin Development team is dedicated to educating all about the benefits of cryptocurrencies, and how to go about using them. Here, we have produced material just for that purpose.
All of the information here is important, but if you want to just get started with your wallet and/or mining, quickly and easily, take a look at our step by step guides or our wallet and mining articles listed below!
The material is split into the following sections and subsections:
What is a cryptocurrency like Pandacoin, Bitcoin, Litecoin and Dogecoin? After-all, doesn’t money have to be backed by a government or a commodity like gold to be worth anything? What are crypocurrencies, and how are they made?
A cryptocurrency is a digital currency stored in digital form on what is called a “blockchain”, distinct from traditional currencies which are represented in physical form with paper/plastic notes or metal coins. The blockchain can be understood as a digital public ledger which tracks coins coming into existence, and coins moving from place to place. This digital currency in the form of information is created through the process of solving algorithms. That is, you start off with an algorithm or formula which contains the information in question, which is then solved.
What are the differences between cryptocurrency and regular bill-and-coin money? The Pandacoin Crypto Crash Course will take a close look at digital currency’s advantages.
Traditional money such as the Dollar, Euro, or Yen, all have something very unfortunate in common. These currencies are uncapped, centralized, and regulated. This means that these traditional currencies are regulated and controlled by a central establishment which can print as much of the currency as they see fit. In the United States, this establishment is the “Federal Reserve”, a private company which prints money and controls the supply of the dollar. The system as described above provides a few key weaknesses.
Two questions that seem to be asked most often about crypto currency are, “What is it, you can’t make money out of nothing”, or “Isn’t that just like a penny stock”
Two questions that seem to be asked most often about cryptocurrencies are, “What is it, you can’t make money out of nothing”, or “Isn’t that just like a penny stock”. The concerns of those who inquire are of course are valid, and here these concerns and a few others shall be addressed.
As for the first question, which essentially asks, “why is it worth money and what reason do I have to invest” the explanation may be a little technical. A cryptocurrency is a digital currency that is released via the decryption of an algorithm. As this algorithm is decrypted, chunks of coins called “blocks” are found, like digging through dirt to find gold. When each block is found, the coins contained in that block are released to whomever found them.
What are the risks inherent in investing in cryptocurrency? Pandacoin’s Crypto Crash Course will fill you in on the precautions to take before you take the plunge.
Whether you have just heard of cryptocurrencies like bitcoin from the media or you have been keeping an eye on them for a while, you might be trying to figure out whether or not it would be a good idea to involve yourself. Here, we will be reviewing both the advantages and risks of cryptocurrencies as they compare to government backed fiat currencies (Dollars and Euros etc).