Learn All About Crypto

It’s that time of the year again: Tax Season. Don’t worry, we’re here to help with our 2022 VirgoCX Canadian Crypto Tax Guide.

Blockchain technology has introduced us to several new concepts that have completely changed the way we function. One of these concepts is smart contracts. Thanks to them, the need for a middleman or intermediary during transactions has been eliminated. In this blog, we’ll be talking about who created smart contracts, what they are, and what you should know about them.

2021 has been the year of the non-fungible token (NFT). With the NFT industry moving at a quick pace, it is hard to understand how inventive some collections are becoming. Let’s look at the most expensive and creative NFTs to have been released so far – and see just how far people have gone to own a piece of digital history. 

Bitcoin is a digital currency, and a wallet is needed for storing, receiving, and sending your crypto. A wallet is protected with a private key so that only the owner of the wallet has access when needed. There are a number of facts to consider when you decide on your Bitcoin wallet depending on your goal. Let’s take a look at each type of wallet, as well as their advantages and disadvantages.

Cryptocurrencies have completely changed the world, with Bitcoin and Ethereum, the two largest and most popular cryptocurrencies seeing an exponential increase in transactions on their network. However, this increase in popularity did expose a flaw in the technology behind these two cryptocurrencies. What is this flaw you ask? It’s the flaw of scalability. This is where the Lightning Network comes in. Let’s take a look at what it is, how it works, and more.

Recently Elon Musk has been tweeting about Bitcoin and Dogecoin. According to his tweets, the crypto market has been swaying. Some investors are worried, and some are happy as the market moves by one of the biggest cryptocurrency influencers. What are his intentions? What is the impact of his tweets? Let’s take a look.

EOS is a cryptocurrency based on a blockchain protocol and was released in 2018 by Block.One. But, what makes EOS so unique? It is blockchain technology designed to attract developers to build decentralized apps (DApps) with a developer-friendly interface so that programmers could develop an app quickly and the app compared to other competitors. Amongst other features, it is scalable and has feeless transactions. We break it down for you in this blog.

Over the last few weeks, China’s moves to further hinder the influence of cryptocurrencies within their borders have had substantial effects on not just Bitcoin, but the cryptocurrency industry as a whole. In what has been a rollercoaster ride of a year, Bitcoin has seen itself yo-yo up and down the market thanks to a plethora of factors, with this as another tick on the board for events affecting Bitcoin’s year.

Bitcoin is a cryptocurrency that was launched in 2009. Bitcoin Cash (BCH) is a hard fork of Bitcoin that was created in 2017; it was made to overcome Bitcoin’s scalability issues. Some users and developers were against the updates associated with the proposed improvement and started a hard fork which gave rise to Bitcoin Cash (BCH).

Mining is earning cryptocurrency as a reward for solving cryptographic equations through the use of computers. Mining exists for the security and confirmation of cryptocurrency transactions. Now, how does mining work for Ethereum in specific? Let’s learn.

When we think of Bitcoin, we primarily think of its place within the cryptocurrency market and how much it costs. Because people are primarily interested in investing Bitcoin, they often forget the technology powering it and, most importantly, the person who made it all possible: Satoshi Nakamoto, the inventor of Bitcoin. Without Nakamoto, we could very well be living in a world without cryptocurrency. Despite his monumental contribution to the industry, no one has seen his face or heard his voice.

With bitcoin gaining traction in the mainstream, it has seen a lot of interest from people who want to understand bitcoin’s inner workings. People want to understand how technology works and how bitcoins are created, and the computing power required to create them. Explaining how the technology behind bitcoin works in its entirety would require a considerable amount of time. However, what we can do is briefly explain how bitcoins are created.

Ethereum 2.0 is a major upgrade to the existing Ethereum blockchain. Ethereum 2.0 plans to increase the speed, efficiency, and most importantly, the Ethereum network’s scalability. Learn more here!

With the 2008 financial crisis, individuals lost faith in the traditional financial system. This is where Decentralized Finance (DeFi) comes in. It eliminates the middlemen and allows users to move away from existing financial services controlled by the government. Let’s take a deeper look into what DeFi is, how it works, and how it is used.

Bitcoin halving occurs approximately every four years or after 210,000 blocks are mined. Also referred to as “the halvening,” this is a significant event for the world’s largest and most popular cryptocurrency. What is the idea behind bitcoin halving? Let’s have a look.

When it comes to cryptocurrencies, most people believe that Bitcoin and Ethereum are all there is. But the truth is there are so many cryptocurrencies out there that it is difficult to keep track of them. Today let’s talk about one of those cryptocurrencies–Dogecoin.