What are Crypto currencies ?
Cryptocurrencies are an area of finance that are currently still shrouded in a bit of mystery despite becoming more and more widespread as times goes on. In order to help clarify what precisely cryptocurrencies are as well as help give you some information on how to start with crypto trading, we’ve put together this quick and easy article contained some useful information. We hope you find it helpful!
What are crypto currencies?
A Crypto currencycryptocurrency is, by definition, a virtual or digital currency that uses cryptography for security purposes to keep the information safe; this cryptographic security is critical for the success of cryptocurrencies, since it ensures that they cannot be counterfeited.
Additionally, a major defining factor of cryptocurrencies is how it is not issued pr maintained by any particular authority or governing body, and as such is not subject to the rulings and whims of any specific governments or businesses; theoretically, this makes cryptocurrencies immune to manipulation and tampering, thus making them more stable and secure. That being said, the value of cryptocurrencies fluctuates a great deal, since the prices of various cryptocurrencies are based on supply and demand (which are not always consistent).
Another thing to take note of is that many cryptocurrencies utilize blockchains for transactions, to help keep accurate and tamper-proof ledgers of all transactions while also offering additional security (although it is worth mentioning that because cryptocurrencies are entirely virtual, they are technically still at risk for being hacked […]