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learn.html
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<!DOCTYPE html>
<html>
<head>
<meta charset="utf-8" />
<link rel="stylesheet" type="text/css" href="./css/learn.css" />
<link rel="icon" type="image/x-icon" href="./img/favicon.ico" />
<meta name="viewport" content="width=device-width, initial-scale=1.0" />
<link rel="stylesheet" type="text/css" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/5.13.0/css/all.min.css" />
<link rel="stylesheet" type="text/css" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/5.13.0/css/brands.min.css" />
<title>Mackee</title>
</head>
<body>
<header>
<div class="logo">
<a href="./index.html"><img src="./img/logo.png" alt="Mackee" /></a>
</div>
<h1 class="title">
<a href="./index.html">Mackee</a>
</h1>
<nav>
<ul>
<li>
<a href="./index.html">Explore</a>
</li>
<li>
<a href="./trending.html">Trending</a>
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<a href="./ranking.html">Ranking</a>
</li>
<li>
<a href="./convert.html">Convert</a>
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<li>
<a href="./learn.html" class="active">Learn</a>
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<a href="./about.html">Who are we?</a>
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<li>
<a href="./manage.html">Let’s play!</a>
</li>
</ul>
</nav>
</header>
<main id="content">
<h1 class="global-title">What is a cryptocurrency?</h1>
<p>
A <b>cryptocurrency</b> is an exchange medium just like <b>money</b>. It can be used to <b>pay for goods and services</b> online and it can be <b>traded for physical cash</b>. It works with the aid of <b>cryptography</b>. Cryptography, also known as cryptology, is the study and the practice of methods for communication security where there are third parties referred to as adversaries. It is used in cryptocurrency for <b>controlling the creation of more currency units</b> as well as for transaction security.
</p>
<p>
Cryptocurrency is therefore a type of “virtual” or “digital” (or even more simply, it is money that can be used online only). Digital coins are <b>stored in digital wallets</b> and transferred digitally to other peoples’ digital wallets. With cryptocurrency, <b>no physical object</b> is ever involved.
</p>
<p>
You can find many types of cryptocurrency online, with <b>Bitcoin</b> being the first and arguably the most common type of cryptocurrency. By surfing on our website, you will be able to find <b>many other cryptocurrencies</b>, to follow or even to invest on!
</p>
<h1 class="global-title">How do cryptocurrencies work?</h1>
<p>
It is a very <b>complex</b> system to explain, but we’ll try to break down how cryptocurrencies work as much as possible.<br/>
<b>Transactions</b> are sent between peers using softwares called “<b>cryptocurrency wallets</b>”. The person creating the transaction uses a wallet software to transfer part of his balance from one account to another.<br/>
To transfer funds, knowledge of <b>a password (a private key)</b> associated with the account is needed. There is no way to access the account without it.<br/>
Transactions made between peers are <b>encrypted</b> and then <b>broadcast</b> to the cryptocurrency’s <b>network</b> and queued up to be added to a <b>public ledger</b>. Transactions are then recorded on the public ledger via a process called “mining”.
</p>
<p>
<b>Cryptocurrency mining</b> consists in solving <b>cryptographic puzzles</b> (via software) to add transactions to the blockchain in the hope of getting <b>coins as a reward</b>.<br/>
All users of a given cryptocurrency have access to the ledger if they choose to access it. The <b>transaction amounts are public</b>, but who sent the transaction is encrypted, thus transactions are <b>pseudo-anonymous</b>.<br/>
</p>
<p>
Each transaction leads back to a <b>unique set of keys</b>. Whoever owns a set of keys, owns the amount of cryptocurrency associated with those keys.<br/>
To illustrate it to you, it is just like <b>bank accounts</b>, whoever owns a bank account owns the money in it.
</p>
<p>
<b>Many transactions</b> are added to the ledger at once. These “blocks” of transactions are added sequentially by miners. That is why the ledger and the technology behind it are called the “<b>block-chain</b>”. It is a chain of blocks containing transactions. Each block contains a <b>reference to the previous one</b> and is <b>signed cryptographically</b>, making the chain <b>almost unbreakable</b>.<br/>
</p>
<p>
This is how most cryptocurrencies work.<br/>
However, some <b>altcoins</b> (alternative coins is a term used to designate all cryptocurrencies except Bitcoin) use unique mechanics. For example, some coins offer <b>fully private transactions</b>, and some don’t use blockchain at all. There are many differences between each cryptocurrency resulting in a <b>huge variety</b>, even though all result from the same concept.
</p>
<h1 class="global-title">How can you get cryptocurrencies?</h1>
<p>
Cryptocurrencies are well known for being <b>secure</b> and providing a <b>high level of anonymity</b>. Transactions cannot be faked or reversed and there tend to be lower fees, making it <b>more reliable</b> than conventional currencies (known as <b>fiats</b>).<br/>
As a <b>new form of cash</b>, the cryptocurrency markets have been known to <b>boom suddenly</b>, meaning a small investment can become a large sum, <b>even overnight</b>, but they also have <b>dipped abruptly</b>.
</p>
<p>
But the world of cryptocurrencies is <b>not a playground</b>. People look to invest in cryptocurrencies should be aware of the <b>volatility</b> of the market and the <b>risks</b> they take when buying. Cryptocurrencies have <b>dropped significantly several times</b>, potentially <b>costing millions</b> to some investors.
</p>
<p>
Because of the level of anonymity they offer, cryptocurrencies are often associated with <b>illegal activity</b>, particularly on the <b>dark web</b>. Users should <b>be careful</b> about the connotations when choosing to buy the currencies. However, even if cryptocurrencies are often associated with illegal activity in the public’s mind, they are not linked to it and are <b>most usually used perfectly legally</b>. Indeed, it is not very complicated to enter the “crypto” world and to <b>create your own wallet</b>!<br/>
</p>
<p>
Most cryptocurrencies can be obtained by the <b>same ways as other currencies</b> can be. You can either <b>exchange goods or services</b> with other people online against cryptocurrency, or you can <b>trade fiats</b> (USD, EUR...) for cryptocurrencies, or you can <b>trade a certain cryptocurrency for another one</b>.<br/>
<b>Our website does not offer a way</b> to obtain cryptocurrencies directly, but we recommend <b><a href="https://www.coinbase.com" target="_blank">Coinbase</a>, <a href="https://www.binance.com" target="_blank">Binance</a>, <a href="https://localbitcoins.com" target="_blank">LocalBitcoins</a>, <a href="https://www.kraken.com" target="_blank">Kraken</a> and <a href="https://www.bitpanda.com" target="_blank">BitPanda</a></b>.
</p>
<p>
Trading is generally done via <b>brokers</b> and <b>exchanges</b> such as the ones above. Brokers are <b>third parties</b> that buy and sell cryptocurrency. Exchanges are like <b>online stock exchanges</b>, but for cryptocurrency.<br/>
One can also trade cryptocurrencies directly between peers. <b>Peer-to-peer exchanges</b> can be mediated by a third party, or not.<br/>
Please be aware that <b>the cryptocurrency market is extremely volatile</b>. You need to take your time before starting and <b>only invest what you’re ready to lose</b> (especially with altcoins that have a <b>lower market capitalization</b>).
</p>
</main>
<footer>
<div class="top">
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<p class="line">Copyright © Aurélien Garnier & Rémi Legrand 2020</p>
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