Finance

Facts of cryptocurrencies you should know

2 min read

2 years ago Clare Louise

Investing in cryptocurrency is a big risk to lose money or straight conversely to make money. It depends on the world situation, economy, the rate of currency, and many other aspects at BitMix https://bitmix.biz/en.

The meaning of cryptocurrency

There are real money and virtual or digital money in other words cryptocurrency. It may be used for purchasing products and services; furthermore, the register with reliable cryptography is used for protecting banking operations. The attention concerning cryptocurrency has been determined by the goal of earning money. As a result, a lot of swindlers use digital money pursuing own benefits. Virtual money is a method of payment that may be made in exchange for goods. For this purpose, a number of companies have released the proper currencies that are named tokens; the currencies may be sold purposely for products and services that the firm supplies. The virtual money is compared to slugs of gambling slot machines and chips in the casinos. It needs to exchange the real currency for example dollars for the cryptos and then getting access to products and services. Digital currencies operate with the usage of a technology so-called blockchain. A decentralized technological process is installed on the majority of computers. Blockchain operates and registers banking operations. The main idea of this technology is safety.

The number of cryptocurrencies

CoinMarketCap.com is a website that has researched more than 6.500 diverse types of cryptocurrencies that are traded publicly. The virtual currencies have grown in the digital market and the total charge amounts to 1.6 trillion dollars and the total charge of Bitcoin (the most popular crypto in the world) is about 950 billion dollars.