How Cryptocurrency Works | NYT - Deepstash
Getting started with Cryptocurrency

Learn more about videos with this collection

Understanding the basics of cryptocurrency

How to store cryptocurrency securely

Risks and benefits of investing in cryptocurrency

Getting started with Cryptocurrency

Discover 84 similar ideas in

It takes just

15 mins to read

Cryptocurrency definition

Cryptocurrency definition

Cryptocurrency is digital money that is used to buy and sell online.

  • It's not based on an asset like gold.
  • It doesn't go through traditional institutions like banks.

It is an entirely decentralised system that uses blockchain technology to track transactions.

6

168 reads

Example of using a cryptocurrency

Say you want to buy a bike from a friend using, for example, Bitcoin.ย 

  • You will log into your Bitcoin wallet with a private key.
  • Instead of a bank recording the money that is subtracted from one side and added to another, your transaction is shared with everyone in the Bitcoin network.
  • The networked computers add your transaction to a shared list of recent transactions (known as a block).
  • Every 10 minutes, the newest block of transactions is chained to all the previous blocks. (known as a blockchain.)

7

79 reads

Bitcoin mining

Bitcoin mining

To ensure that every block of transactions on the chain is verified, a subset of Bitcoin's network tries to solve the complex puzzle. The first one to succeed is rewarded with Bitcoins of their own. The network then adds the new block on the chain.ย 

This process is known as mining. The Bitcoin protocol states that mining will continue until there are 21 million Bitcoins in existence. That will happen around 2140.

5

70 reads

CURATED BY

elizabetlo

Health promotion specialist

Ready for the next level?

Read Like a Pro

stash-superman-illustration

Explore the Worldโ€™s

Best Ideas

200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.

An Idea for Everything

Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.

Knowledge Library

Powerful Saving & Organizational Tools

Save ideas for later reading, for personalized stashes, or for remembering it later.

# Personal Growth

Take Your Ideas

Anywhere

Organize your ideas & listen on the go. And with Pro, there are no limits.

Listen on the go

Just press play and we take care of the words.

Never worry about spotty connections

No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.

Get Organized with Stashes

Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.

Join

2 Million Stashers

4.8

5,740 Reviews

App Store

4.7

72,690 Reviews

Google Play

samz905

Donโ€™t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.

โ€œ

Shankul Varada

Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.

โ€œ

Ashley Anthony

This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!

โ€œ

Sean Green

Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.

โ€œ

Jamyson Haug

Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.

โ€œ

Laetitia Berton

I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!

โ€œ

Giovanna Scalzone

Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.

โ€œ

Ghazala Begum

Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.

โ€œ

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Access to 200,000+ ideas

โ€”

Access to the mobile app

โ€”

Unlimited idea saving & library

โ€”

โ€”

Unlimited history

โ€”

โ€”

Unlimited listening to ideas

โ€”

โ€”

Downloading & offline access

โ€”

โ€”

Personalized recommendations

โ€”

โ€”

FAQ

Claim Your Limited Offer

Get Deepstash Pro

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates