Welcome to the Crypto Crowd website, a place for people living in South Africa who are interested in Bitcoin. The Crypto Crowd is an online community that will keep you informed daily and in real time with everything Bitcoin and Crypto related!
We are glad you have decided to become part of the Bitcoin revolution in South Africa and around the world. Be a part of the community that is actively involved and invested in Bitcoin!
Bitcoin is an online payment system invented by anonymous user ‘Satoshi Nakamoto’, who published his invention in 2008, and released as open-source software in 2009.
The bitcoin system is peer-to-peer, and users can transact directly with each other all over the world almost instantly, without needing an intermediary such as a bank, Paypal or any other company. The bitcoin system works without a central repository or single administrator, so is the worlds first decentralized digital currency, and it is the largest of its kind in terms of total market value. There is no company or entity controlling bitcoin.
When you dig into the details of Bitcoin, it’s almost an unbelievable tale about how to create money. Although it seems like fiction, it’s actually the best-known version of digital currency in use today. To help you wrap your head around what it is, what it does and how to earn Bitcoins, we pulled together a complete beginner’s guide to Bitcoin article from ChainEX.
Bitcoin is a digital currency, so there are no coins to mint or bills to print. There is not a government, financial institution or any other authority that controls it, so it’s decentralized
The owners who have Bitcoins in the system are anonymous — there are no account numbers, names, social security numbers or any other identifying features that connect Bitcoins to its owners
Bitcoin uses blockchain technology and encryption keys to connect buyers and sellers. And, just like diamonds or gold, a Bitcoin gets “mined.”
So how do you make money? Easy, you trade it :). ChainEX is a proudly South African private company, and currently, a South African digital asset exchange that provides a platform for South Africans to buy, sell or trade a variety of digital assets using the South African rand as the default fiat-buying currency for some.
