Introduction into the Crypto World

Cryptocurrency

Cryptocurrencies are primarily used to make payments from one person to another, without intermediaries such as banks or governments that impose conditions, fees, and taxes.

Compared to regular money, cryptocurrencies can be sent highly quickly (minutes or even seconds) to any part of the world, with meager commissions compared to the bank ones.

But up to a massive adoption as payment instruments - like money - because their price fluctuates quite a lot and because they have excellent growth prospects in the medium and long term, cryptocurrencies are being used now like stocks/investments on the stock exchange, in other words, most buy them for the speculative purpose, that of generating profit.

Also, not being an official currency, even if you have a garnishment on your account, no one can withhold from the cryptocurrency value you hold.

Bitcoin is the first cryptocurrency and was created in 2009 by Satoshi Nakamoto, still anonymous untill today.

The value of Bitcoin began to rise from a few cents in 2010 to almost USD 20,000 in 2017. It currently fluctuates around USD 9-10,000. According to several mathematical algorithms, it is expected to exceed values of several hundred thousand euros/units in a few years.

Fiat Currency

Euros, dollars, pounds, Turkish lira, RON, CASH, cheese, smackers, stash... money you have in your bank accounts or under your mattress. The money you find in last season's clothes and you get excited.

Blockchain

Here's a bit tricky. It's kind of a folder (not that usual file folder, the digital one) in care toata lumea care participa la tranzactii detine cate o copie, toata lumea vede si are acces la toate informatiile si nu se poate modifica ceva decat cu acordul a minim jumatate plus 1.

Leaving the joke aside, it is a revolutionary technology, as the Internet was in 1994, and it is the technology you will soon see in accounting, cadastre, automotives and, above all, in government, the date when the vote will be taken on the blockchain will also be the date when the last death on the voting lists will be recorded.

Decentralization

At present, much of the databases are under the dome of state institutions and banks. These institutions can manipulate them in their favor, without seeing them often. Sometimes we find out, we get a little bit riled up, a brawl comes and often goes out faster than it started.

Through blockkhain and decentralization, power and databases are no longer in the hands of a single power, but are distributed among all participants. Everything is transparent and decisions are taken by majority vote, to say so.

We want to be very clear that these new technologies do not incite anarchy, but only optimization, transparency and better management of resources.

Wallet

Just as the word-for-word translation in Romanian is, the cryptocurrencies wallet is a wallet.

Ciptocurrencies can be stored on different exchange platforms, just as usual money is kept at the bank, you can also store them on your laptop, phone or even stick, without internet connection requirement to access them.

How to buy cryptocurrencies?

Cryptocurrencies can be purchased from one person to another (peer-to-peer) or from an online exchange. There are several international and national exchanges. Among them, an excellent option is our LDV Crypto Bank, a romanian exchange with a very serious team behind it: https://ldvbank.com/

The purchasing process is effortless:

Register for an account on the site with the following files:

  • ID card
  • bank statement of the account from which you want to send RON or EUR
  • a selfie in which you hold your ID card, to avoid identity theft

You can deposit RON or EUR in your own balance on the platform. The deposit is made by bank transfer.

After the deposit has reached the platform, you can purchase BITCOIN or ETHER at any time. Purchased cryptocurrencies can be stored on the platform or in your wallet, ot they can be transferred to other wallets.

Create a new account

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Secure passwords must include:

  • Both lowercase and UPPERCASE letters
  • 1 or more digits
  • + some form of special sign
  • and must be ≥ 8 characters long
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