Question 1

What is cryptocurrency and how does it work?

Accepted Answer

A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.

Question 2

Is cryptocurrency real money?

Accepted Answer

Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger.

Question 3

What is an altcoin

Accepted Answer

An Altcoin is an alternative digital currency to Bitcoin. The word Altcoin is a portmanteau of alternative and coin, to form altcoin. It actually refers to a group of cryptocurrencies, ultimately all the cryptocurrencies other than Bitcoin.

Question 4

What does rug pull mean?

Accepted Answer

A “rug pull,” which gets its name from the expression “pulling the rug out,” is a cryptocurrency scam in which a developer attracts investors but pulls out before the project is complete, leaving buyers with a worthless asset.

Question 5

What is ApeSpace?

Accepted Answer

ApeSpace is an all-in-one DeFi trading platform leveraging the fastest, most accurate on-chain data available to provide you the most accurate price and charts for all crypto and altcoins. Our tools are designed to help customers beat the market.

Question 6

Will crypto market recover in 2023?

Accepted Answer

Experts and analysts claim that you should consider the beginning of 2023 as the ideal time to invest in cryptocurrencies, as they have stated that we should expect recovery in the market later in 2023.

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