What is cryptocurrency?
Cryptocurrency is a digital or virtual currency that uses cryptography for security. A defining feature of a cryptocurrency, and arguably its biggest allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
What are the top 12 cryptocurrency facts?
- Cryptocurrency is a digital or virtual currency that uses cryptography for security.
- A defining feature of a cryptocurrency, and arguably its biggest allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
- Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
- There are over 4,000 different types of cryptocurrencies in existence as of 2019.
- The market capitalization of the entire cryptocurrency market was over $700 billion as of February 2018.
- Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services.
- Bitcoin is the most widely used cryptocurrency, with Ethereum, Ripple, Litecoin, and EOS being some of the other popular options.
- Cryptocurrencies are often praised for their decentralized nature, transparency, and immutability.
- However, they have also been criticized for their lack of regulation and volatility.
- Cryptocurrencies are not backed by any physical asset or government.
- Cryptocurrencies are often stored in wallets, which can be software, hardware, or paper.
- Cryptocurrency wallets are used to store, receive, and send cryptocurrencies.