Since bitcoin, the first cryptocurrency was launched in 2009 by Satoshi Nakamoto (a man, woman, or a group of them probably too busy to be distracted by paparazzi), you have most probably witnessed the good, the bad, and the ugly. At Kurecoinhub, we are happiest when you are on the good side of the crypto life: secured, safe, and sound.
The Power of Crypto and Where You Stand
For the first time in the history of man, each one of us regardless of our colour, location, race, religion, and social status has in his or her hands a digital, decentralized, peer-to-peer, trustless, encrypted, and borderless currency. This is what is called cryptocurrency.
With the introduction of cryptocurrencies, you have access to digital coins or notes that only exist on computers. There is no central bank minting anything. None.
Cryptocurrencies don’t have a central computer or server. Because these cryptocurrencies are distributed across a network of computers without a central server, they are decentralized.
Also, cryptocurrencies are peer-to-peer (p2p), enabling you to deal with other persons one on one, rather than having to trust a bank or other intermediaries to help you complete transactions.
And it is because of cryptocurrency’s p2p nature that we often say that cryptocurrencies are trustless. Trustless since you don’t need to rely on a trusted third party.
To ensure that your personal information is private and secure, cryptocurrencies are encrypted. This is by means of cryptographic techniques and encryption algorithms. (If you never liked maths like me, please jump to the next paragraph already!) These include elliptical curve encryption, hashing functions, public-private key pairs, etcetera.
Lastly, cryptocurrencies are borderless. This enables you carry out transactions with anybody anywhere in the world, easily, safely, and speedily. No Western Union or Moneygram needed. None. It’s you on top of the world. Ride on!
Wow. Amazing stuff, right? Absolutely!
You are now your own bank.
But to whom much is given, much is expected, right? Right. Never forget that. In today’s crypto world, your financial life is now in your hands. Take responsibility today.
The crypto world is largely an anonymous, decentralized, and unregulated world. You are your own brother’s (or sister’s) keeper.
If you failed to secure your password, there’s no central authority to blame.
If you mistakenly sent your crypto to the wrong wallet, there is no customer service centre to ring up. (Even robots will be out of town!)
And if hackers axed your account down and made away with your funds because you failed to protect your private key, there is no central vault.
You are your own bank, not us. Wasn’t that the idea in the first place? So we are square. This is you completely in charge. Take complete charge.
How do I take complete charge, you ask? Good question. Here’s how:
Crypto & You: Legal & Safety Tips with Kull at your fingertips
Welcome to Crypto & You: Legal & Safety Tips with Kull. Yes, call me Kull. I’m your cool, go-to legal & safety tips pal on this roller-coaster crypto side of life.
At Crypto & You: Legal & Safety Tips with Kull, it’s all about YOU. (Honestly, if not for you, I wouldn’t have gotten this job at Kurecoinhub.) Every week, you will be getting useful tips that will help you take charge of your newly found economic freedom in crypto. These tips will also help you not only stay secure but also feel safe. Everytime.
From Crypto & You: Legal & Safety Tips with Kull, till next week, stay secured, safe, and sound!