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Crypto and digital money: everything you need to know before you start

August 27, 2019

While Bitcoin, XRP and Ethereum are the best known, cryptocurrencies have been constantly evolving in recent times, and are becoming real investment references. But what...

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Crypto and digital money: everything you need to know before you start


While Bitcoin, XRP and Ethereum are the best known, cryptocurrencies have been constantly evolving in recent times, and are becoming real investment references. But what do we need to understand about virtual currencies and what are their real uses?

Definition of a cryptocurrency

Considered as virtual currencies, cryptocurrencies function as new, more secure means of payment and investment. A whole encryption procedure has been put in place to create the blockchain, this specific concept that has made it possible to differentiate between the increasingly numerous categories of cryptocurrencies currently in use.

Moreover, creators of virtual currencies are free to define the exchange process that interests them and the limits of use of these digital currencies, which explains the presence of different categories of virtual currencies. But in any case, Bitcoin is now a reference, and so is Ethereum.

Payment using digital assets

Because your cryptocurrency balances can never be changed into a ticket, the only option you have left is to use it as a payment method on sites that accept this type of transaction. To do this, you will go to the specialized sites to open your portfolio in virtual currency, in exchange for a commission.

In any case, you will be asked for proof of your identity and it is better to have it in digital format when you register on a cryptocurrency exchange website. As soon as this step is completed, you will be able to increase your portfolio by purchasing cryptocurrency from reference sites such as Bitcoin, Ethereum, Litecoin and XRP.

For all your cryptocurrency transactions, you will need to find out the unique alphanumeric address of the person to whom you want to make a transfer, then indicate the value in euros or cryptocurrency to be transferred. The “principales places de marché ou bourses” can be found on this website!

Understanding how a cryptocurrency works

To be valid, a cryptocurrency is based on peer to peer, a decentralized storage mode that can be supplied with different kinds of currencies. For those who want to invest in virtual currencies, portfolios are managed by a CFD or Contract for Difference, a form of financial market speculation that does not require the purchase or sale of underlying assets.

To put it simply, the cryptocurrency market remains interesting, because price variations are always real and you can count on a virtual currency that does not yet have its maximum liquidity volume rate.

Trading platforms

For easy access to your digital currency portfolio, you can use the simple platforms that offer you liquidity risk management and where transactions are simplified.

In another level of cryptocurrency transactions, trading platforms (such as Coinbase or Binance) invite you to buy or sell virtual currencies, much like what you would do for stock market investments. However, you must have a certain level of experience to stay one step ahead of market fluctuations

The first digital currencies accepted in Europe are in Iceland – Monerium

iceland and crypto

Following an operating license granted to Monerium, the Icelandic Financial Supervisory Authority (FME) recently legalized the use of digital currencies. The company specializing in electronic currencies will now be able to exchange blockchain-based digital assets in the country. This is a huge news, even in a country that has always been in favour of crypto-assets!

Monerium has grown gradually

Monerium defines itself as a very demanding company in terms of compliance with regulations and has been patient before launching its products. Indeed, Sveinn Valfells, the company’s CEO, pointed out that instead of seeking a posteriori approval from the authorities (FME) for a product already developed, Monerium was moving, step by step and hand in hand, towards each stage of its development.

Besides, the President of Monerium said in an interview that the digital currency and blockchain industry developed within this framework gives the company a competitive advantage.

A jump to the European Economic Area

It was only after the decision of the WFCW that Icelanders were able to carry out digital asset transactions, despite the upsurge in crypto-mining companies all over the country. By licensing Monerium (the country’s first digital currency payment company), users will now be able to conduct electronic currency transactions in Iceland based on blockchain technology. The goal is to provide a more efficient, less expensive currency with fewer intermediaries. We don’t really seem to be talking about crypto money but rather e-money according to the firm’s website. In any case, this remains the first case of its kind approved in Europe. At the time of the announcement, the WEF mentioned that:

What future for Iceland?

Iceland’s northern and icy climate is prime terrain for mining activities. However, local experts are considering a more focused orientation towards cryptomarket activities. In particular, the legal barrier governing these assets prevented Icelandic users from asserting the fundamental function of digital assets.

For Jon H. Egilsson, co-founder of Monerium, the assets issued by the company would incorporate all the advantages of blockchain technology, being able to play the traditional role of money.

Finally, this approval will probably pave the way for the democratization of Blockchain projects outside mining activities in Iceland. The registration of Monerium as the leading provider of digital assets in the country marks a significant change in Iceland’s confidence in electronic currencies and therefore, crypto money in Europe more broadly. However, the responsibility incumbent on it in terms of securing the funds of its users is imperative and points to the development of a long-term approach.

How the Libra Cryptocurrency intends to overcome the flaws of Bitcoin and Ethereum?

libra coin and facebook

Libra marks a milestone in the history of cryptocurrencies: never before has such a project been conceived and supported, not by one, but by 28 companies, many of them world-renowned. In a world full of fraud, bugs, and cyber robberies, some may see Libra as the first “legitimate” cryptocurrency. It is indeed built around stability as a mantra, even if it means sacrificing on decentralization that made the eyes of the blockchain militants shine.

The Libra’s smart contracts are reusable

Finally, like Ethereum, the Libra blockchain allows the integration of intelligent contracts. Libra has developed its Move programming language to enable their implementation, which it praises as “safe” compared to the languages of other blockchains such as Ethereum’s Solidity, which are known to have flaws.

Libra’s intelligent contracts are called “modules.” While on Ethereum, only predetermined wallet are compatible the same piece of code, any asset in the blockchain can reuse the Libra modules. It is also noted that the Libra will, at least initially, restrict what programmers can code on the blockchain for stability reasons.

Decentralization on the go?

All this would be for the first years of Libra’s operation. One of the roles of the Libra Association will be to “work with the community” to start the transition to a “without permission” system within 5 years of the launch of the Libra, by 2025. In principle, large investors in regular Libra would gradually be allowed to operate their validator nodes, as on most crypto money systems.

In 2025, the Libra Association hopes that at least 20% of the voting rights of the board will be in the hands of such persons. These would not be affected by the 1% voting cap – it is assumed that votes will be diluted between enough actors so that no one can reasonably capture too much power in the system.

Speed, size, consensus, and contracts

Bitcoin and its traditional blockchain are easily clogged. First, because blocks are only created every 10 minutes, and then because their size is limited to 1 megabyte. In 2017, researchers noted that Bitcoin could hardly handle more than 7 transactions per second. In the same period, Visa credit cards handle an average of 2,000 transactions, with peaks at 56,000.

The search for speed can explain the first particularity of the Libra blockchain, which is not a chain of blocks. “The concept of a block of transactions in the history of the registry doesn’t exist,” explains the whitepaper. A group does not transmit transactions to the validator nodes, but one by one and sequentially. 1,000 transactions per second could thus be managed for 100 validator nodes. With its “unified structure,” Libra is not the first cryptocurrency to try alternatives. The controversial IOTA, intended for the Internet of Things and therefore requiring speed, had already developed its system called “Tangle.”

Cryptocurrency and the Future


Cryptocurrency is soon becoming a trend and an ideal investment scheme. People who once called it a scam are now the ones investing in it. So what does the future have in store for cryptocurrency? To help you understand that question we have put together a few critical points which might give cryptocurrency an essential space in our future.

1. Trustworthy

In a world filled with crimes against people for money, cryptocurrency provides one of the safest forms of dealing with transactions relating to the payment. The investment in cryptocurrency, unlike other investments, remain hidden and nobody apart from you will have an idea about your investment because the digital way is the safest forms of bringing in a return on your investment.

2. Avoided the Middleman

Unlike other investments and transactions, cryptocurrency eliminates the middleman in the process. The deal is between you and typically a computer and hence one can avoid spending amount on commission charges and other such charges when you seek a third man’s help for your investment.


3. Basic Knowledge

Investments in stocks and other financial markets are not easily accessible. You must analyze the market by understanding its ups and downs and eventually choose an investment portal which you think is best suited for your money. On the other hand, investing in cryptocurrency does not require a lot of thought and effort. The transaction is relatively simple, and any individual with basic knowledge about the digital world of operations can go ahead to invest in cryptocurrency.

4. Easy storage

The amount on the return on investment can easily be stored in wallets and such places which will go in your bank account. In a time filled with frauds and other such activities, a secure storage option should never be ignored if you value your hard earned money.

5. Ease of Settlement

Cryptocurrencies are widely preferred because they are transactions which take place in a matter of seconds using the blockchain. Since your the one in charge of almost everything, dealing with cryptocurrencies such as bitcoins are valuable.

6. Zero Payments for Transactions


Other transaction in the digital world typically come with certain charges which are directly deductible from your bank account. But in the case of cryptocurrency, one can except zero fees in terms of dealing with transactions as their free of cost.

7. Financial Decider

The amount you would like to invest in cryptocurrency is up to you, and only you can make that decision. There are no such factors in the world of cryptocurrency, which will influence the amount of finance.

8. Credentials

An investor need not share all their credentials relating to credit card details and so on while investing in cryptocurrency as respect towards your privacy. This eventually helps to avoid thefts relating to identity, which are on the rise currently.

Top 3 running cryptocurrencies to invest your money in 2019


If you have done some research on what cryptocurrency is, that means by now you must be already planning on investing in Bitcoin or altcoins. The rates of cryptocurrencies change every day, so there is no way to say for sure that profit is guaranteed. But, considering that the next generation will be adapting the crypto exchange sooner or later, this might be the right time to know about the best rates available. Here is a list of the most successful cryptocurrencies available in the market. Be careful about choosing because the companies promising huge profits might not be trusted by many, and the price may drop soon. Best way to know is to study the charts for at least a month before you can decide to invest in a stable cryptocurrency.


The first ever and the most successful cryptocurrency available today is Bitcoin. At present, it holds a 40% share of the entire cryptocurrency market cap. It continued to grow and dominated its competitors and still might be a good idea to invest in it if you are planning a huge investment. After the split of Bitcoin into two – Bitcoin and Bitcoin Cash the rates have declined to almost half which caused the investor to lose a huge fortune, but if you are familiar with the stock market business you must know that there is always some risk involved. Bitcoin is available at around 11,000 dollars today with a market cap of 206 billion dollars.

Ethereum (ETH)


Ethereum is the best cryptocurrency to invest in 2019. The market cap rose to a remarkable 128 billion dollars in 2018. Although after that it has declined to 31 billion dollars today. But the market is still young for ETH, and it costs only 300 dollars to invest in it. There is no other currency close to ETH, which is offering such high profits. It is the only currency with the biggest market cap after Bitcoin. If you need a quick investment to expect greater results, this is the currency for which you need to go. Ethereum also offers users to use its platform to create the cryptocurrency.

Ripple (XRP)

Ripple is the best performing coin in the past two years after ETH. With investment cost as low as 0.5 dollars, it is the most affordable and profitable coin in the market right now. The market cap for XRP has reached 17 billion dollars, with more investors coming in every day. However, the stability of this coin is not as promising as Ethereum. Invest at your own risk where the risk is just as minimum as one dollar.

Litecoin (LTC)

The youngest coin in the market with a great performance history, Litecoin has grown to almost 8000% from its launch. The price of Litecoin has grown from around 4 dollars in the beginning to 116 dollars today with a market cap of 7 billion dollars. It will be unfair to give credit to Litecoin for keeping up with the best cryptocurrencies that are available today. If you are thinking of putting your money on Litecoin, your decision has greater chances of being the right one.