What is Cryptocurrency? And can it bring financial freedom?

Hi There. Great to see you again.

Today I'd like to share a little more on my bitcoin journey. As I took the steps to learn more about cryptocurrency, I think the questions that needed answering was "What is Cryptocurrency and  Bitcoin?", "Is this real?", Can this really bring financial freedom?" and "Can I use this or cash this out?" Thus i began my endeavor.

A number of people has asked me what Cryptocurrency, Bitcoin, Litecoin, Ethereum...  is all about, so I've always tried to put it into simple terms so that a lay person can understand it. Basically, cryptocurrency is a digital currency, secure, transparent and a trustless system(You don't have to trust a bank, visa or master card to perform the transaction for you). It is not governed by any country, is driven by supply and demand, and it's value depends on the price at which it is currently traded. It operates 24/7, 365 days a year. Transactions that take place are stored in what we call a blockchain, and anyone can download or view this information. There are well over 1500 cryptocurrencies at this point of time, and Bitcoin is the first decentralized cryptocurrency which started in 2009.

Cryptocurrency is real, and in my opinion, there are a few things that could happen, there will be a few standing established cryptocurrencies at the end of the day, it could become a world currency in time to come, or all of it just crashes and burns.

Can Bitcoin bring financial freedom? I think it's possible, but it takes time and some planning. I wouldn't encourage you to place all your eggs into 1 basket though, but would rather recommend diversifying into other avenues like stocks, property, online business... I'll share more on these at a later stage.

The big question I had on my mind was whether I could cash this out. And from what i found out, the short answer is yes. The only thing about this is that the verification process is really long(more than 1 month), which is actually quite ridiculous if you ask me, but ok I guess if you're in it for the long term. One of the trusted platforms that I use is Coinbase(You can get some free Bitcoin on your 1st purchase). This platform enables you to buy, sell and transfer Bitcoin(btc), Bitcoin Cash(bch), Ethereum(eth) & Litecoin(ltc).

If you find my information useful, and like to embark on Cloud Mining. you can use my affiliate link to Bitcoin Mining at hashflare.io.

Do share with me know your thoughts or ideas. I'll write more in the coming days. Thanks for reading and see you again.