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Cryptocurrencies and Bitcoin: What Are They?
March 17, 2018
In an age of transformative payment options, currency types and the digitalization of the world’s information, money, as we know it, is changing. Physical currency as a medium of exchange, payment or purchase can be counterfeited, stolen or lost and cannot be validated for ownership most of the time. Cryptocurrency is a digital currency that uses cryptography for security. The investment capabilities and risks of bitcoin and other cryptocurrencies are discussed below.
Cryptocurrencies: What are They?
A cryptocurrency is, in the simplest connotation, a digital asset that is constructed as a medium of exchange. Cryptocurrencies enable payments to be sent between users without passing through a central authority (like a bank). They are created and held electronically.
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