How The Heck Is It Possible For Me To Buy Cryptocurrencies? - A Study Made By a Noob For a Noob - Part 2
cryptocurrency·@arsenal49·
0.000 HBDHow The Heck Is It Possible For Me To Buy Cryptocurrencies? - A Study Made By a Noob For a Noob - Part 2
 # This Is A Study Made By a Noob For Noobs ------------------------------------------------------------------------------------------------------------------------------------------------------------------- I have found myself reading a lot about cryptocurrencies, and investing a little amount of money in it aswell. Yet, I don't know anything about it. I Don't know what a blockchain is, I don't know how any of this work, I don't know anything about this. Therefore I'm currently trying to figure out these things. One step at a time. # Recap ------------------------------------------------------------------------------------------------------------------------------------------------------------------- In [part 1](https://steemit.com/cryptocurrency/@arsenal49/what-the-heck-is-a-cryptocurrency-a-study-made-by-a-noob-for-a-noob-part-1) we learned that a *cryptocurrency* is a **digital decentralized currency.** That leads us to: *How does it work?* # How Does It Work ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Normally traditional currencies are being issued by central banks. This is not the case with a digital decentralized currency. No authority or central bank govern the currency, or controlling it. **But if nobody is controlling it, who is distrubuting them and making it possible for me to buy them?** The short answer is: **The miners**. Like gold. Coins has to **be mined** to get in circulation. Gold that are still in the mines are not in circulation yet. Therefore coins to be released into circulation has to be mined. On Steemit you mine by creating content. That's why Steemit is so brillant. Suddenly everybody can mine. Anyway...Back to the miners. Coins are generated when computers are solving some difficult tasks. This process is called **mining**. After those coins are generated it's up to the owner of the coins if want to sell them or not. The owner being who ever decided that he wanted to start mining coins. These coins can then be bought on an exchange site for the currencies we know. Like dollars or euros. # Let's Sum It Up ------------------------------------------------------------------------------------------------------------------------------------------------------------------- A cryptocurrency is a digital decentralized currency. This currency is being mined by computer solving difficult tasks. When these tasks are solved coins are givin to the miner. The miner can from here choose to sell or keep his coins. *"So can you explain a little more about the mining process?"* Don't be stupid. Of course not. # Be Critical I really am a noob, just trying to learn, so let me know if I am wrong. I would love to know. ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: [1](http://www.economist.com/bitcoinexplained),[2](http://media.coindesk.com/uploads/2013/08/how-to-mine-bitcoins.jpg), [3](https://i.ytimg.com/vi/ktK6Yx3_czs/hqdefault.jpg) https://steemitimages.com/0x0/https://steemitimages.com/0x0/http://gifmaker.me/files/download/home/20170524/19/1TaQiZOMlcB3yvcfQ4sfnr/output_9mip1c.gif