Learn about cryptocurrencies, transactions and their market

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Editorial Dept. Voz de la Diaspora

In a world that is racing towards the digital age in an accelerated way, cryptocurrency is established as an alternative to make payments. Then, everything you need to know with the expert economist of Panamanian origin Luis Vargas, Facilitator of the Institute for Comprehensive Insurance Training (IFIS), who explains how to invest in crypto? in an easy way, safe and fast.

The first thing to know is that cryptocurrencies started more than a decade ago, with cryptography or sending of encrypted data messages, at that time the experts thought: "If we can send a data message, in which the parties find it impossible to reject their authorship, and that is invulnerable and immutable, well we can make a digital currency ". And this is how the cryptocurrency issue began.

The first experience in cryptocurrencies was bitcoin, and from there an infinity of variants began to emerge that are known as alternative currencies or AL COINs and later as the volatility of bitcoin was so great, Another third type of currencies was created, which are the esterions points or stable currencies, that have a counter value in any FIAT or circulating currency of any country.

Regarding the value of cryptocurrencies, it is something very discussed, that still generates a lot of stigmas to bitcoin, since most people think they do not have a monetary backing.

Photo VD / Archive.

In this sense, Cryptocurrency system advocates point out that dollars don't have a backing either. Nowadays, with monetary incentives in the United States, you see every time, that the Federal Reserve prints more inorganic money, that is, it has no backup, it is simply paper money printing, leading to excess liquidity and higher inflation.

However cryptocurrencies were said to have no backing, well they do, since the entire structure of hardware or machines that perform the validation operation of each of the buying and selling actions of that currency has enormous value and moves a market, a volume of billions of dollars today, and it is one of the assets that is moving the most volume of money in the world, and so much lack of support has a dollar, How can a bitcoin have it?, however for that they created these stable coins, for example, there is one called "tetter" and has its counter value in dollars, where for each tetter there is a dollar deposited in a bank account.

How to invest in cryptocurrencies?

According to Vargas, it should be taken into account, that for the banking in the world, there is data from the UN and the World Bank where it is said that there are two thirds of the population that does not have a bank account, but nevertheless, of the entire population, only a third lack mobile technology, cellular or mobile data, so, it can be said that bankarization has not reached most of the world's population, and that that contributes to poverty, however they have access to a telephone, digital equipment or internet, cryptocurrency comes to decentralize the monetary system and bring it to the people, that is to say, bring power to the people.

Now to open an account or "electronic walet", to have a cryptocurrency or to be able to buy it, only one email is needed, This is how the digital and electronic gap in world society is reduced. This is one of the great contributions of cryptocurrencies to the world, that is to say, that anyone who has access to an email, one telephone, and the internet, you can create an electronic wallet and store cryptocurrencies, to sell, buy or trade any type of merchandise, paying in bitcoin or any type of cryptocurrency.

Photo: Courtesy.

For example, if a person makes rugs in South Africa and wants to sell them in Europe, but you do not have a bank account where you can make a transfer that takes 3 O 4 days and that it has a too high cost, could sell your rugs online, and the client could pay you in cryptocurrency in its equivalent. Anyone can do it by creating their e-wallet, have cryptocurrencies, digital assets and save them there.

Notably, that the retail market as Market or merchandising is already on the rise, we see that recently the people of Mercado Libre, in Latin America is accepting bitcoin, o Pay Pal. They are accepting cryptocurrencies, and we see that many major chains are joining the position of receiving cryptocurrencies, but much technological development is lacking for cryptocurrencies to become definitively a means of payment, daily, frequent and constant. Still, in the world there is more use of payment by credit card.

For those interested, in learning about cryptocurrencies, the three ways to invest are:

Mining: It's the way new coins are put into circulation on proof-of-work-based chains. To participate in mining activities, you have to buy a computer and put it to validate transactions within a network.

Trading: Another way to invest in cryptocurrencies is through trading, buying and selling to benefit from market fluctuations. It is the equivalent of the stockbroker for the crypto world. Traditional financial institutions are not allowed to offer cryptocurrency products to their clients. Until this happens, investments must be made from a walet or with specialized agents.

Long-term investment

A third way is to make long-term investments. Many of the blockchain projects that are taking their first steps, could become the Google, the Facebook and the Amazons of the future.

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About IFIS

The Institute for Comprehensive Insurance Training (IFIS), is an educational center Regulated and Supervised by the Superintendency of Insurance and Reinsurance of Panama. Its hub is located in Panama City and through its Virtual Educational Platform, provides Insurance and Soft Skills courses for Central America, The Caribbean and South America.

IFIS, It has basic insurance programs for people who wish to venture into this activity, and turn, designs advanced programs for professionals who already have previous experience in the industry and wish to update their knowledge or specialize in a particular subject. At the same time, It also has Soft Skills Training, that seek to promote the personal and professional growth of each of the participants.

On the other hand, IFIS offers training in In Company format, with programs, courses, or workshops designed according to the specific requirements of each company. The IFIS Faculty, has a long history at the international level, which allows each of the trainings to have a global and up-to-date approach to the events that have taken place within the insurance and reinsurance industry worldwide.. To learn more about IFIS, visit the website www.ifiseguros.com or social networks @ifiseguros