This article is aimed at crypto beginners who want to learn more about the topic. In a short overview we explain what cryptocurrencies are and how to use them.
What is a cryptocurrency?
Cryptocurrencies, also known as coins or tokens, are cryptographically secured digital assets that are usually available in limited quantities. These coins can be bought, sold, sent, received and exchanged with the help of a crypto exchange, for example. The special thing about cryptocurrencies is that they are based on the concept of blockchain (?). There are now over 10,000 different coins, which normally all differ in their concept.
The biggest cryptocurrencies (coins)
Where can you buy these coins?
You can buy cryptocurrencies on so-called crypto exchanges. The most popular exchanges for buying coins are:
How can these coins be stored?
You can store the coins safely in a so-called wallet. You can think of a wallet as your online banking account. The difference is that instead of euros or Swiss francs, you find cryptocurrencies in it.
Coin ist nicht gleich Coin
Normally, crypto projects are also behind the coins, which in turn offer different problem solutions for different use cases. For example, there are projects that can carry out transactions more efficiently through their concept and thus also reduce the transaction fee that depends on it.
Was kostet eine Kryptowährung?
A single coin can cost from the fraction of a cent (e.g. Shiba Inu €0.00002143/coin) to tens of thousands of euros (e.g. Bitcoin €37,200/coin). The price of a coin is not an indicator for an investment valuation. What is decisive is how many Coins there are of this cryptocurrency. Only then can you draw conclusions about the size of the total value of the cryptocurrency by calculating the total value. Since you can also buy fractions of a coin, the price only plays a minor role.
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