Since the beginning of time, inventions has been a part of human beings. Most inventions are prompted by the need of improving people’s lives. And just like other departments, the finance department of our lives is also being affected by this need for change. From the days of exchanging goods for goods as a form of trade, to having precious objects act as currency, to this modern age where almost everything is done online. For humans always wanting to find an avenue that they can put their money in order to acquire more of it has been the order of the day. Stocks and Forex have been one of the most profitable avenues people use to invest their money.
With technological advancement, people have been able to realize and invent a new type of currency known by those in the finance world as crypto currency. These currencies are a form of investing money on the internet. A crypto currency is a digital medium of exchange that uses cryptography to enable transactions that are secured. Some distinct features are notable in this currency.;
One of the most distinguishing feature about this new currency is that no one can produce others of the same value because of their high security feature.
No central body has claim to crypto currencies and so they cannot determine its pricing and any other matter related to it.
The following advantages can be associated with crypto currencies.;
It is easy to transfer money from one individual to another online because of its high security feature. Low transaction costs is what crypto currency is about.
Its high security also makes it have limited threat to hacking when it comes to crypto currencies.
The process of getting access to this currency os called cloud mining. This is the use and investment of one’s crypto currency that involves the compressing of transactions to make it shorter and more understandable.
Its high security features allows the trader to get a mining machine in order to make transactions possible.
Cloud mining requires that someone is assisted into the system by a managing company that acts as a broker.
A well-known company that deals with cloud mining at its best is a mining company known as Genesis Mining. Helping clients through the mines has been the amazing job being done by Genesis Mining Company. To start mining, one has to open an account with them on their website. One has to find their account and follow by choosing a mining plan that they prefer.
In order to know where a person is in terms of trading this currency, they have to keep a record of their transactions. The transactions in this currency are tracked by an programmed calculator. It works by calculating previous records, present and can also be used to predict future returns.