Cryptocurrency
is a type of digital or virtual currency that uses cryptography to secure its
transactions and to control the creation of new units. Cryptocurrency is
decentralized, meaning it is not subject to government or financial institution
control. As of February 8, 2018, there were over 1,600 different types of
cryptocurrency in existence.
What are the benefits of cryptocurrency?
Cryptocurrency
is decentralized, meaning there is no central authority that can block or
restrict transactions. Additionally, cryptocurrency doesn't rely on a third
party to store funds, so your money is always safe. Lastly, cryptocurrency
allows people to make instant international payments without worrying about
currency fluctuations.
How do cryptocurrencies work?
Cryptocurrencies
are decentralized digital tokens that use cryptography to secure their
transactions and to control the creation of new units. Cryptocurrencies are
unique in that they are not subject to government or financial institution
control.
Cryptocurrencies
are traded on exchanges and can also be used in peer-to-peer transactions.
Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Other popular cryptocurrencies include Ethereum, Litecoin, and Bitcoin Cash.
Cryptocurrencies
are often traded on decentralized exchanges and can also be used to purchase
goods and services.
Cryptocurrency Markets
Cryptocurrencies
by market cap are worth more than $300 billion as of press time. Bitcoin, the
most popular cryptocurrency, has a market cap of over $100 billion. Ethereum,
Ripple and Bitcoin Cash are also among the top 10 cryptocurrencies by market
cap.
Cryptocurrencies
are still in their early days, so there is a lot of volatility. Some coins have
seen large increases in value, while others have fallen dramatically. It can be
difficult to predict which cryptocurrencies will be successful in the long term.
Some
investors are interested in cryptocurrencies because they believe that they
will become more valuable in the future. Others are using them as a way to make
money by trading them on exchanges.
Buying and selling cryptocurrencies
Cryptocurrencies
are digital or virtual tokens that use cryptography to secure their
transactions and to control the creation of new units. Cryptocurrencies are
decentralized, meaning they are not subject to government or financial
institution control. Bitcoin, the first and most well-known cryptocurrency, was
created in 2009. Cryptocurrencies are often traded on decentralized exchanges
and can also be used to purchase goods and services.