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Ever wondered what crypto-currencies (bitcoin and altcoin) are?

Cryptocoin are not fake money or gambling positions.

Everything started with Bitcoin, imagined in 2008, released in 2009. As the source code is open and free, many more coins (alt-coins) have been created by various individuals and companies.

The whole concept is somewhat technical but can it be summarized as this:

Each individual gets a bitcoin address (but you can and should generate several) linked to a wallet which works, to the end user, like a regular wallet.

Once you have installed a wallet for the coin of your choice (they exist for Windows, MAC OS, Linux, IOS, Android, ...) it will generate an address to and from which you can send and receive bitcoins.

trading platforms allow you to change USD or EUR, RUB, ... to almost any coin in an instant at the current price.

The value of the coin is defined by the trading occurring on those trading platforms much as the stock market works by an offer and demand balance.

The value of some coins is highly volatile, it can vary from hundreds of usd in a relatively short time.

Buying them can be very expensive, that's why some turn to mining which can be more profitable.

To compare all of these solutions use Sha 256 cloud mining's services.

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