What is Cryptocurrency?
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What is Cryptocurrency?
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What is Cryptocurrency?
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Cryptocurrency is a form of payment that can be exchanged online for goods and services.
Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.
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Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.
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Source: https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know
Cryptocurrency is a form of payment that can be exchanged online for goods and services.
Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.
​
Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.
​
Source: https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know
Cryptocurrency is a form of payment that can be exchanged online for goods and services.
Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.
​
Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.
​
Source: https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know
O40ACRES
What is Cryptocurrency?
Cryptocurrency is a form of payment that can be exchanged online for goods and services.
​
Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.
​
​Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.
Two types of Tokens
Fungible
Token
When most people say crypto, blockchain or token, what they really mean is Fungible Token. These Tokens or often called coins, are coins like Bitcoin, Etherium, DOGE or others.
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If you have CashApp, you can buy Bitcoin fungible tokens from the App.
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Fungible tokens are like all other coins around the world. Meaning, your US penny and my US penny have the same monetary value. So if you have one BitCoin and I have one BitCoin, we have exactly the same thing; same monetary value.
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And like pennies, if you wanted to exchange your penny for US $1, you'd need 100 pennies (or however many US pennies make up on Euro). The same is true for Fungible tokens. You want to exchange your tokens for US dollars or Euros, there is a conversion rate. Some are less than a US dollar or Euro, while others are worth more.
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The key for people new to crypto is to buy and hold (HODL) until your conversion rate goes up. Or put another way...always buy low and sell for high(er)...or HODL, HODL, HODL.
Non-Fungible Token
Non-Fungible Token
Van Gogh self-portrait
Painting by Vincent van Gogh
Fungible Token
A newer and emerging type of token if called non-fungible tokens (NFT). NFTs are more like pieces of art. So if you have a Picasso painting and I have a Van Gogh, the value of these two different paintings are not the same. Each is unique.
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And in most cases, only one person or organization own the unique piece of art. But unlike traditional art, you and I could each own a small portion of the same piece of unique art.
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With a NFT, one person, tens of people or up to billions of people can share "limited" ownership.
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And if you or I want to sell our small share of the painting (e.g. NFT), we offer it on an exchange and the new buyer takes our place as the new partial owner (or sole owner).
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Just like other investments, the key for people new to crypto is to...always buy low and sell high(er).
What is 040acres?
O40ACoin is the first crypto coin "4 The Culture". As part of Our 40 Acres 501(c)3 role, we are dedicated to correcting the generational wealth gap that plaques African Diaspora.
Our main focus with O40ACoin is to create transparency and generate full clarity for “new” crypto investors to know that what they are trading is safe and secure. O40A is our collective chance to level the playing field and create 21st Century Reparations.
The team behind O40ACoin ensures everyone enters O40A with equal opportunity by initiating a fair launch, meaning that there are no allocated coins to private venture capital and big business has to buy in at the same time as the rest of the community.
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African-Americans outpace Whites and Hispanics in cryptocurrency investments. But we don’t have our own Coin!
So, with your help, O40ACoin is seeking to be the first coin for us/by-us that potentially generates the generational wealth needed to change the plight of billions around the world.