On our website, we offer you a cryptocurrency converter tool, for converting different coins, to major currencies. The Cryptocurrency craze bloomed in 2017 where BTC reached its peak price at $20, 000 USD.
Today cryptocurrencies have become a global phenomenon known by most people, but understood by few. In 2019, you will have a hard time finding a major bank, accounting firm , software company or government, that hasn’t researched cryptocurrencies or started a blockchain project. Beyond the noise and the Press Releases many people failed to understand the basic concepts, so let’s walk through the whole cryptocurrency story.
What are Cryptocurrencies?
Satoshi invented bitcoin in 2008, as a peer to peer electronic cash system.
To realise digital cash you’ll need a payment network with Accounts, Balances and Transactions. That’s easy to understand. Now, one major problem that the network payment has to solve is to prevent double spending, that is to prevent one entity from spending the same amount twice.Usually this is done by a central server, who keeps records of all the balances.
In the decentralized network you don’t have this central server so you need every single entity of the network to do this job. Every peer on the network needs to have a full list of all transactions to check if future transactions are valid or an attempt to double spend.
What currencies does our website Convert?
We have conversions for the following Crypto Currencies:
BTC · ETH · LTC · ZEC · DASH · XRP · USDT · XMR · BCH · NEO · ADA · EOS ·
We will be adding more cryptocurrencies to our website.