The craze for digital currencies is here to stay. Digital currency like Altcoins and Bitcoins are being used by an increasing number of people and businesses. There is a lot of confusion surrounding blockchain wallet, even though purchasing and selling virtual currency is rather simple. Once you have made the decision to invest in digital currency, one of the first steps you will need to take is to get a blockchain wallet. So lets take a look at what it’s all about.
So What is It?
A Blockchain Wallet is designed to store and manage various digital currencies like Bitcoin and Ether. With a blockchain wallet, users can transfer digital currencies and convert them back into their local currency. This is a must for anyone interested in venturing out into the world of digital commerce.
Blockchain is a distributed database that is shared by multiple system nodes. The reason it is named Blockchain is that it gathers data in encrypted blocks that are connected to other sets of blocks to create a virtual chain.
The blockchain is a new and exciting database that is here to stay. It serves as the platform digital currencies and requires a virtual wallet for exchanging, utilizing, and redeeming them. This virtual environment operates similarly to the wallet in your back pocket, but in the digital world. Therefore a blockchain wallet is a must. Everyone who owns any type of digital currency needs to have one.
If you are looking for a way to convert your cash or other assets into digital currency then you are in the right place. We recommend combining your blockchain wallet with COINBASE. It is an excellent source on the use of digital currency and how to buy and trade. In addition, you can earn $10 in BTC by registering. Free Money
There are several different wallets available, each with specific purposes and resources within blockchain and digital currency. The Coinbase wallet is what we have recommended for several years.
- Coinbase now offers an option to stake or hold your coins for gains with Staked Coins. They agree to lock them, and hold the value of the coin itself. In return, you earn an Annual Percentage Yield (APY), similar to a bond or savings account. The APY can range from 0.01% to sometimes over 25%, depending on the coin. Generally, you can consider the coins that Coinbase supports to be safer, but when you invest in staking, it will still carry a certain level of risk.
- Staked coins earn additional digital currency rewards, similar to a bank bond or Certificate of Deposit. They are be of use to create and leverage additional bit coins.
The decision of whether or not to invest in digital currency is a personal and controversial one. Everyone should do their own research into to topic evaluating the benefits vs risks involved with investing. Whatever you decide, digital currency is here to stay
Our online community Zoom rooms offer coverage and training on blockchain, digital currencies, and other related topics. Contact us to learn more about how we can educate and support you during this exciting time of technological advancement.