We used rocks to exchange product and service, and then came the gold, paper and now plastic. Cryptocurrency is the next step in human societal progression. With its decentralized approach and blockchain technology, cryptocurrency can be shared, traded and even bought in a peer to peer fashion. It truly is the future of currency. Cryptocurrency can be utilized to buy goods and services, it's a new form of digital cash, or just something you want to speculate on! All in all, cryptocurrency has the potential to revolutionize economy as we know it.
In this article, I will share a few reasons why cryptocurrency is, and will be a key part of the future economy.
How Cryptocurrency Works
The blockchain network is responsible for recording all transactions in a public and permanent ledger. There are some key aspects to the network that help keep things running smoothly. In order for cryptocurrency to become a widely used method of payment, it must be able to be transferred from user to user without a middle man or financial institution taking a cut. Since cryptocurrency is decentralized, this means that there is no centralized control or organization. This prevents the establishment of a trustless system and helps protect users from fraudulent transactions.
How to Buy Cryptocurrency
Buying cryptocurrency can be a daunting task for many new traders. There are numerous exchanges out there that offer different methods of purchasing, and it can become confusing as to where to start. On the best exchanges, you can purchase Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). While each of these coins have different values, the values are not completely correlated with their overall market cap. Each coin is bought with fiat currency, so if you're looking for something to buy, start here!
Is Cryptocurrency Legal?
In most countries cryptocurrency is a regulated form of a currency.