Cryptocurrency

Cryptocurrency

 

The creation of Satoshi Nakamoto who wanted to invent a way to build a decentralized digital cash system. By creating decentralized digital cash there is no need for a server, but rather the nodes on the entire network all have copies of the public ledger to validate transactions.

Cryptocurrencies have changed the way many conduct a variety of transactions online, the market cap of cryptocurrencies stands at well over $500 billion, with over 1,000 different cryptocurrencies in circulation.

Crypto coins

Cryptocurrencies are what we’d call the digital forms of currency that uses cryptography and mathematical proof for security.

It’s widely believed the use of cryptocurrencies can actually make it easier to transfer funds between individuals through the use of private keys.

The private key is re-generated after you obtain an address for the cryptocurrency of your choice, from the 1,000 plus to choose from, including:

  • Bitcoin (BTC),  founded by Satoshi Nakamoto and released in 2009 – see our Bitcoin page
  • Litecoin (LTC), founded by Charlie Lee and released in 2011
  • SwiftCoin (STC) founded by Daniel Bruno and released in 2011
  • Monero (MZC) founded by Monero Core Team and released in 2014
  • Verge (XVG) founded by Sunerok and released in 2014 – see our Verge Coin page
  • Ethereum (ETH) founded by Vitalik Buterin and released in 2015

Cryptocurrencies are the simplest form, they are nothing more than entries in a database, and no one can change.  Basically they are nothing more than pieces of code belonging to a database, which represent value in the form of a cryptocurrency.

The cryptocurrencies have a certain level of intrinsic value and as this collective consensus has spread, it has opened the way for businesses to now accept cryptocurrencies as an official form of payment away from traditional forms of currency to exchange for goods and services and they can also be traded on the financial markets.

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice.