I wonder how many people are still envious of the people who have made a lot of money in virtual currency investment, but still not taking the step. Just knowing the meaning of the terms we often hear about cryptocurrencies is enough to inform us. This time, let’s focus on the virtual currency “Ethereum”, which has the highest market capitalization after Bitcoin, and explain the rules and ideas of investment.
Before we talk about Ethereum, let’s find out what a virtual currency is. Virtual currency is a digital currency exchanged through the Internet. There is no such thing as a 100-yen coin or a 1,000-yen bill, and there is no national guarantee. Since there is no issuer or administrator, the users decide the value.
A currency that is easy to use and worth a lot of people will probably want it even if the exchange rate is high. Virtual currency is characterized by the fierce price movement of the exchange rate. It has become a hot topic as more investors have paid attention to it, and it has become widely known as a means of speculation. Another reason for the trend is that many people think that the market is volatile and it is easy to earn a profit margin because there is no one to stop even if the value rises too much.
What is the simple feature of Ethereum, a virtual currency?
The feature of Ethereum is that it not only uses the same encryption technology as Bitcoin, but also incorporates a new mechanism to brush up. By adopting a system called a smart contract, we are building a system that enables smoother and safer transactions for https://bitcoin-pro.live/.
A smart contract is a mechanism that automates all transactions. Specifically, the program should be able to process a series of steps such as application for service → payment of fee → execution of service → payment for the person in charge of the service. It is possible to operate with increased safety and reduced costs.
What do you know? Ethereum term
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If you want to start investing in cryptocurrency, here are some terms you should know at a minimum. I have summarized the meanings of important terms that appear when you are researching Ethereum.
Currency unit: ETH
The currency unit of Ethereum is ETH. As of October 18, 2018, 1 ETH = 22,132 yen. Just like a stock investment, you can make investment decisions by looking at the ETH unit chart.
A unit of charge for sending Ethereum. The name Gas simply means fuel. A certain amount of Gas will be deducted from remittances from the virtual currency exchange. There are also cases where you set the Gas yourself, in which case you will need to enter the Gas limit and Gas price. Roughly speaking, the Gas limit is the upper limit of the Gas to be used, the Gas price is the price per Gas, and the higher the Gas price, the higher the priority.
Virtual currencies without a manager are also characterized by the fact that everyone cooperates in tasks such as new issuance and approval of transactions. This work is collectively called mining, and the people and companies that do it are called miners. Since mining requires a high-performance computer and electricity bill, miners are paid mining rewards. There is a possibility that mining will not be necessary due to the change in Ethereum structure, and we are paying attention to future trends.
If you are new to Ethereum, method 1 is recommended. on the other hand, as with the hacking incidents of cryptocurrency exchanges, assets may be damaged if security is not properly selected. As a personal countermeasure, you can consider introducing security software and avoiding saving passwords. A virtual currency that has a lot of risks but also carries various risks. Especially for beginners, we recommend starting with a small investment with excess funds.
Don’t fund large amount in stating because it may cause losses. But if start with small amount ten chances to get losses are small. Also choose only reliable sites for doing the trading