Tag: Cardano (ADA)

How does “Staking” cryptocurrencies work?

You have probably heard of staking if you have been interested in cryptocurrencies for a long time. Staking can be a complex or simple concept for you, depending on how you approach it, just like any other bitcoin topic. In any case, staking can be a reliable source of passive income in the world of cryptocurrencies, as every investor and trader knows.

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The event that could change Bitcoin and cryptocurrencies forever

There was a time when cryptocurrency was just one cryptocurrency called Bitcoin. Around that time, the former Magic: The Gathering Online exchange, which was quickly forgotten about, was converted into a bitcoin exchange called Mt. Gox. A few months later, after a change in management, Mt.Gox was processing more than 20,000 transactions a day while bitcoin was trading at $1 – just imagine being invested in crypto at the time, geez. Despite some hacking attacks, the exchange continued to grow in value at an impressive rate. At one point, according to Miles Deutscher, 70% of bitcoin transactions were made on that exchange. Nothing but impressive. For context, at the time, the only cryptocurrencies in existence besides Bitcoin were Litecoin and Namecoin, so a huge percentage of crypto transactions were taking place on Mt.Gox. However, in June 2011, the situation changed for the worse.

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