Welcome to the cryptocurrency section of our website, where we aim to give you a gentle introduction to the world of cryptocurrency, dismiss a few myths, and show you how to start earning cryptocurrency for FREE.

A cryptocurrency is a digital asset where all transactions are highly encrypted and generally recorded on a blockchain. The easiest way to explain this is to compare a cryptocurrency against a regular form of money.

As an example...

You have a bank account, it's in the USA and operates in dollars and  cents.

Now replace bank account with wallet, dollars with Bitcoins (the most popular cryptocurrency) and cents with satoshis.

And it becomes...

You have a cryptocurrency wallet, it operates in Bitcoins and satoshis.

The only real difference (other than value) between dollars and Bitcoins, is the number of digits after the decimal point. With the dollar you generally see two digits after the decimal point because there are 100 cents to a dollar, however with Bitcoins there are eight digits after the decimal point because there are 100,000,000 satoshis to a Bitcoin. This means you would see one cent written as $0.01, while one satoshi would be written as ₿0.00000001.

To make things easier, let's say 1 Bitcoin is worth the same as $10.000...

$10,000 would equal ₿1.00000000, $1,000 would equal ₿0.10000000, $100 would equal ₿0.01000000, $1 would equal ₿0.00100000, $0.10 would equal ₿0.00010000, $0.01 would equal ₿0.00001000. Effectively ₿0.00000001 (one satoshi) would equal $0.00001.

The current Bitcoin rate to the dollar can be easily found by searching "BTC to USD" in the search engines. The same can be said of any other cryptocurrency against any other currency and also between cryptocurrencies themselves.

In May 2021, the cryptocurrency market was worth around $1.7trillion, and there was over 10,000 listed cryptocurrencies. In the two years since, the market value has continued to increase and more cryptocurrencies have become available. After Bitcoin, the next most popular cryptocurrencies are Ethereum and Tether.

Many people believe that cryptocurrency is a risk, the simple answer is that it isn't. However some of the things you could do with cryptocurrency are risky, these include trading as losses can be made and being scammed because funds are completely unrecoverable. The value of your cryptocurrency can go up and down against other currencies, just like the £ against the $ does, but just like a £ is always worth a £ and a $ is always worth a $, a ₿ is always worth a ₿, and you just need to use your common sense if buying or selling cryptocurrency, with the simple rule being "Buy when it's low, sell when it's high".

Here at GIFTSpromo, we tend not to buy cryptocurrency and never do trading. Instead we look for ways of earning cryptocurrency, and when we have enough we exchange the cryptocurrency into real money and transfer that to our bank account.

Click HERE to see where we earn our cryptocurrency, but do remember you will need a wallet to store the cryptocurrency you earn, so please check out the wallets we use HERE.