What is a blockchain wallet? Magical? That’s the perfect place to begin. Think of a traditional wallet-the leather fold-over pouch to keep your cash, cards and maybe even a picture of that dream car you plan to buy someday. A blockchain wallet serves the same purpose, but in the digital world.
Blockchain technology is Here to Stay. It is becoming the foundation of future databases and the environment where cryptocurrencies live. To exchange, store, or use digital currency, you need a secure virtual wallet-your digital equivalent of the wallet in your back pocket. This new platform is nothing more than another innovate way of moving forward with digital finance technology. Gone are the days that you are weighted down by the weight in your pocket.
It’s like a savings account. You leave the coins, don’t use them. When you do this, you earn annual percentage yield just like interest on your savings account. Nothing unusual to the younger generation, this is their norm. Unlike the elders we wanted to feel the coin in our pocket, it was real, it was solid. Difficult to grasp the digital concept. However, this is the future, its just having faith that this is the way to go into the future. This is a risk we take just like any other investment. The more you learn how this platform functions the more you will open your mind about this new concept. These are here to stay, a different approach of investment that could really be rewarding for our pockets. It can also be a legacy for your family and their future. The return of investment may surprise you at the end. You start small and observe how it functions, how it develops, the result you never imagined. Fear solves nothing. We are constantly just wasting our hard earned money on useless costly items. Be daring, take the step to invest in yourself and learn for the long haul.
If you are Looking for the best way to move traditional currency/cash into Cryptocurrency, We recommend using the blockchain wallet with COINBASE . It’s one of the most user-friendly platforms available, and it’s a great place to learn the basics. Plus, you receive a small Bitcoin reward for just joining. A win, win situation!
- From there, you will discover many other wallets-each designed for specific purposes within the growing world of blockchain and digital finance, we’ve trusted and used Coinbase for years because of its reliability and ease of use.
- UNDERSTANDING STAKED COINS
- Coinbase now offers the ability to “stake” certain cryptocurrencies. Staking simply means locking your coins for a period of time, agreeing not to sell or transfer them. In return, you earn an APY (Annual Percentage Yield)-similar to interest from a savings account or returns from a bond.
- APY’s can vary widely, from very small percentages to surprisingly high ones, depending on the coin. Coins supported by Coinbase tend to be more stable, but like any other investment, staking carries a risk. Those ones supported within Coinbase typically have proven to be safer.
- While coins are staked, they can be earning rewards-often paid out in additional cryptocurrency. It’s similar to how a certificate of deposit works in traditional banking, but designed for the digital age,
Learn with us! We offer training and education on blockchain, cryptocurrency, and related technologies through our Online Community Zoom Rooms. If you want guidance, clarity, or support as you explore this new digital frontier, we are here to help you. Get in touch with us anytime. We’re excited to help you navigate this incredible moment in technological evolution. Join With Us