Cryptocurrencies are digital or virtual currencies that use cryptography for security. They are decentralized and operate on technology called blockchain which is a distributed ledger enforced by a network of computers called nodes. The biggest draw of cryptocurrencies is their potential for massive returns. But they also can offer an important level of privacy and security in financial transactions, have potential for being an inflation hedge, and could shape future of finance.
But why should you care? For one, cryptocurrencies are part of a bigger picture – the potentially monumental shift to digital finance. Secondly, theyâre pushing the boundaries of whatâs constituted as currency – how it’s created, used, stored. It’s important to be informed about cryptocurrencies, whether you invest or not, because they are shaping the financial world of the future. Be it Bitcoin, Ethereum or the many other cryptocurrencies, they hold a significant disruptive power over the traditional financial systems. Read More
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