Just as language barriers between different countries can make it difficult to do business, so can different forms of currency. Even sending money home to support your family can be expensive and time consuming, if they live in a country that uses a different form of money. And navigating the different banking laws across borders is another headache!
Well, in 2008, someone hatched a new plan to solve these problems.
Cryptocurrency was born, in the form of Bitcoin. And the world will never be the same. I like to explain cryptocurrency as the modern day equivalent to wampum. Instead of trading shells and beads like natives, we can now trade digitally with various cryptocurrency.
Trade goods or precious metals were only worth what people agreed they were worth, and digital money is really no different. If people agree to trade in it, and you can take yours and get a Sandwich at Subway with it, for example, then it is real.
Bitcoin was just the first of thousands of cryptocurrencies available. Here are some key details and support tools to help you to understand how and what they are. And more importantly what they mean to you.
First, Lets break down the basics of what Bitcoin represents:
Bitcoin is the world’s first form of decentralized money.
- It is a store of value that is censorship-resistant, and
- It cannot be tampered with. No one can break in and steal it. No one person can ‘cook the books’ and syphon it off into other account. There is no one control point with unequal “authority”. Bitcoin and any cryptocurrency on the blockchain is Consensus verified. Therefore, the fully public records of it, recorded digitally, help keep it safe.
The Bitcoin network is able to operate without intermediaries or third party service providers. This is because of the decentralized structure and peer-to-peer protocol of Bitcoin. As a result, it essentially operates as its own economy.
As with anything, the balance to reward is risk. Regulations are being enacted to protect consumers. You want to have a mobile wallet provided by someone you can trust.
We think OMINEX is the leader in this category! They are completely free to use. And you can also send money to friends and family using their mobile numbers or email addresses at no charge.
Cryptocurrency – How to Protect and Operate within Compliance and Legality Globally:
OMINEX is the leader in protecting your crypto funds and helping you stay within the law. Their Compliance Wallet™ is an easy to use token wallet. It was designed totally from scratch to support compliance regulations. As a result, it is the only wallet with compliance functionality built-in. This makes sure compliance is accurate and reliable.
OMINEX also supports multiple regulations, so you can sell tokens worldwide under different jurisdictions using Compliance Engine™.
To help everyone stay in compliance and keep their currency safe, OMINEX put together the “Open Compliance Project,” which supports international regulations. There is infinite space for growth, and this allows for an ongoing platform and support community. Since new tokens are coming out daily, regulation and compliance is a must to protect both users and investors.
The number of new ICO (coin offerings) is surpassing 20 new Token Solutions offered each day. This is where OMINEX comes in, to assist with regulations that protect consumers. I just got my wallet today, and printed out my paper version for extra security.
Ominex has a great support staff. I was reading about them earlier, and they seemed to have taken great care in who they hire. Definitely some talented individuals there. They offer these financial solutions for you:
- Help you vet out and verify legitimacy of the new coins offered globally.
- Allow you as a user (via the OMINEX WALLET) to participate in new vetted ICO’s easily.
- Give you easy access to view the top Coins and to buy or sell easily within a single Wallet. They work with all types of cryptocurrency, and can also pay out in fiat money–that’s paper money to people like me!
- Predictions are this will be the #1 User Wallet and Solution for working with Cryptocurrencies in the future.
OMINEX is also rolling out new benefits and features to handle the demand that Cryptocurrencies and Blockchain deployment will create. In this case, I think it will be worth your while to keep your eye on them as you investigate and get started with cryptocurrency.
#cryptocurrency
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