When the cryptocurrency industry came into the center of the spotlight over a decade ago, many were skeptical about it. How does it work, exactly? What is the difference between using Bitcoin and my old, trusty credit card? However, as time passed, crypto currencies proved to be more effective than any other form of payment known today.

Though things really started to roll for the crypto industry back in 2009 when Bitcoin was first introduced, the first forms of cryptocurrencies were actually introduced much earlier. The first-ever digital currency was created back in 1983 by an American cryptographer David Chaum. He designed the very first form of a digital coin, naming it simply - Ecash. Over a decade later in 1995, he implemented it in further through DigiCash - as a way to withdraw this money through the banknotes. What particularly stood out with this invention and what is still a crucial part of any cryptocurrency today, is the fact that you needed a special type of key to decode the information in order to get your request processed by the software.

The Mighty Bitcoin

Bitcoin is considered as a number one cryptocurrency today. It was designed back in 2009 by the inventor (or inventors) known only by the pseudonym Satoshi Nakamoto. To this day, no one is exactly sure who is hiding behind this name. Nevertheless, one thing this proves is - Bitcoin sure can keep a secret.

Bitcoin is the first decentralized form of digital currency. This means that it is not maintained by a bank or any other official institution. Rather, it is controlled by an entire network of computers that are based all around the world. Bitcoin is based on blockchain technology, which is one of the safest types of technology that is used in many other industries, as well. The blockchain contains all the crucial information and keeps it safe from any possible abuse. Whichever data you put into it, it is practically impossible to decode it if you don’t have a special key for that use, that only the client is given, of course.

Blockchain technology became one of the most important means of the safety of information in the tech world. It is now being implemented in many other industries, from economy and finance to even healthcare.

What is Namecoin?

As the Bitcoin proved itself as a long-standing name in the financial industry, many derivatives have since been created based on this popular digital currency. One of the most successful ones is certainly Namecoin. This is a unique type of cryptocurrency based on the Bitcoin software.

Namecoin is based on the same functioning features that made Bitcoin so strong and popular. Similarly to its parent currency - Namecoin is also limited to the production of 21 million coins. What particularly stands out is that the Namecoin comes with a special extension which is quite significant to the world of information. Namely, this type of digital currency is designed in a way to improve the sources and transfer of information in a way that deals with the majority of censorship for the countries involved.

What is Mining?

Contrary to what you may have guessed from the name, the term of mining is actually used to represent the verification of the cryptocurrency transactions. Miners are people who do it, and as a reward - they get their own cryptocurrencies. This way, the transaction fees are significantly decreased, which means that less power is used to process each request.

Still, some countries took it as an offense and even as a threat to their own financial systems. So, they decided to ban mining and currency trading completely. One of the first examples that come to mind is China, who banned all of these operations just last year. This brought a whole revolution in the crypto industry. Many Chinese miners decided to relocate to Canada, while others chose Iceland as the new safe-haven thanks to quite low electricity costs.

Cryptocurrency Wallet

So, where can I store my Bitcoin? Since it is implemented within the blockchain technology, many would think that it is quite impossible to retrieve it whenever you feel like it. You couldn’t be more wrong!

The basis of the appeal is safety - but that doesn’t mean that you will have to jump through rings of fire to get to your money. Rather, you will get an encoded key that contains your private information, and it is the only way to get to your Bitcoins. When you put it like that - the only thing you have to worry about is not losing your key!

Now, let’s check out some of the best (and worst) trading platforms that offer you easy and efficient cryptocurrency transactions. Some will be worthy of your time, while others you should only steer clear of. Let’s see the difference between the two!


COINSHYPE Review

Everyone is raving about this new cryptocurrency exchange brand called Conshype. What is it all about?- Read full review

HOUSE OF BITS Review

House of Bits is a fairly new and exciting brand to watch on the market. What are its main features?"- Read full review

GEMINI Review

Founded way back in 1992, Saxo Trade still manages to be one of the most talked-about trading platforms today.- Read full review

GEMINI Review

Oanda is an established broker with a lot of history and some strikes along the way. Let's dive a bit deeper.- Read full review

Tokens.net Review

Tokens.net is sponsored by the majority of the sites within the crypto industry. Still, how legitimate is this project?- Read full review

ITBIT Review

Are the up and coming title and appealing design enough to attract new and eager traders? Let’s see how that works for ItBit.- Read full review

GEMINI Review

Is 5 years enough for a broker to establish itself on the trading market? You’d be surprised.- Read full review

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Platform Our Score Customers-score Overall score Platform-execution Withdrawal speed Support-assistance Education-Tools
FXVC 87.5% 89% 88% 92% 83% 78% 97%
E Toro 83% 85% 84% 81% 93% 75% 82%
SECUREDVC 82% 80% 81.5% 73% 96% 81% 78%
24OPTION 80% 78% 79% 84% 68% 89% 76%
Stockscm 77% 79% 78% 80% 75% 65% 86%
FX PRO 76% 74% 75% 73% 80% 83% 67%
YORKCG 75% 73% 74% 82% 77% 65% 79%
FXTM 74% 72% 73% 65% 73% 81% 77%
XTB 36% 39% 37.5% 37% 25% 37% 46%
City Index 34% 37% 33.5% 26% 29% 40% 39%