Blockchain – Buy Cryptocurrency Bitcoin, Ethereum on www.blockchain.com

If you’re into investments in banking or cryptocurrency like buying of Bitcoin, Ethereum, Litecoin and more. Blockchain will not be a new word to you. On www.blockchain.com you get an indestructible digital transaction ledger that keeps the record of transaction between two parties with trust.

However, blockchain as the name implies is literally a chain of blocks strung together. More so, we can further say blockchain is a public database where digital information are recorded.

Blockchain - Buy Cryptocurrency Bitcoin, Ethereum on www.blockchain.com
Blockchain – Buy Cryptocurrency Bitcoin, Ethereum on www.blockchain.com

Blockchain

Despite the fact that blockchain is not private it’s very secure because after a transaction has been made and recorded on the blockchain it is nearly impossible to change the content of the block which the transaction was recorded.

Block in the “blockchain” refers to pieces of digital information while the chain means a public database. The block keeps records such as transaction date and time and the amount in real currency (Dollar or Euro for example) from your latest transaction.

Records of both parties that participated in the transaction are stored in the block. For a block to be added to the block chain there must be a verified transaction and that transaction must be stored in a block.

Cryptocurrency Wallet

Basically, a cryptocurrency wallet is a medium of storing the public and private “keys” address or seed. Which you can use to receive or spend cryptocurrency online. Therefore, with the private key, you have access to write in the public ledger. Effectively, you can spend the money associated with cryptocurrency. More so, with the public key, it is possible for others to send currency to the wallet as well.

Blockchain Transaction

Before investing your money in the cryptomarket you must have an understanding of blockchain transaction. Basically, blockchain transaction has a lot advantages compared to the normal banking system.

A normal bank transaction might take hours or even days as h case may be to go through and cost a lot of transaction fee too.  But with block chain transaction you can transfer a huge amount of money at a very short period of time for a small fee.

Therefore, after a transaction is made, there can neither be cancellations nor refunds. More so, the data of the transaction cannot be deleted, this is what gives block chain transaction a upper hand over other transaction systems in the market.

Consensus

Consensus is a process which blockchain transaction adopted for the verification of blockchain transactions. However, consensus is when all blocks is the block chain are in concord with one another.

When 51% of the blocks agrees that a transaction is valid then a block is added to the chain. The only way this verification process of blockchain can be distorted is of more than 51% of your block in your blockchain is controlled by one party, in other words for a transaction to be incorruptible both parties must equally control a block of the block chain.

How to Open a Blockchain Wallet

Precisely, blockchain wallet is a digital wallet that users store and manage their cryptocurrency (Bitcoin or etherum). With block chain wallet you can sell more than one cryptocurrency. Creating a blockchain wallet is free and easy, the following steps will put you through on how to create a blockchain wallet

  1. Ensure your internet connection is active
  2. Open your browser and log on to www.blockchain.com
  3. Click on wallet from the menu then you’ll be taken to another interface, click on sign up.
  4. On the next page you’ll be asked you to input your email address and a new password. This will allow you to access your block chain wallet in the future
  5. Click on continue and your wallet has been successfully created, you’ll be redirect to another page, just click on get started and you’ll be taken to your wallet dashboard
  6. Open your email, you’ll find a verification in form of a link and your wallet identification which will be used to login to your wallet. Click on the link to verify your email.

Users can access their block chain wallet through the web or a mobile app. Your block chain wallet homepage displays your balance (Bitcoin and/or ethereum) and your latest transaction. Also, there other wallets like trust wallet,

Furthermore, for each request a user sends, it generates an address is by the system. More so, you can change Bitcoin for ethereum and ethereum for Bitcoin vice versa. Also, users can as well decide to sell their Bitcoin anytime they want.

List of Crypto Wallets

  • Coinbase Wallet.
  • Binance
  • Counter Wallet
  • Metamask.
  • BitPay
  • Bread wallet
  • ZenGo.
  • Exodus.
  • Trust Wallet.
  • Coinomi
  • Trezor Wallet.
  • Ambire Wallet.
  • Stellarport
  • BitGo Cryptocurrency Wallet.
  • Zumo wallet

These are some crypto wallets you can download and use. Some you can use them for exchange of cryptocurrencies too.

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