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Cryptocurrencies are like any other currency, except that they are not legal tender and are available only digitally. Despite these differences, cryptocurrencies can be spent to buy goods and services, saved, traded and invested, much like fiat money. Cryptocurrencies can be traded on a cryptocurrency exchange, which operates like any fiat currency exchange. The difference...
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In January 2017, the Bitcoin price hovered around the $900 mark. Who would have thought that merely six months later, the Bitcoin price would soar past $2,500? Amid doubts and disbelief, the value of Bitcoin continued to skyrocket, to breach the $4,300 mark on August 17. “…the floodgates are opening,” said Ronnie Moas, founder of...
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Cryptocurrency trading soared to a record high on June 6, 2017, when the combined market capitalization breached the $100 billion mark. With spikes recorded throughout the year, the market cap had surged past even the most bullish projections. At $100 billion, the cryptocurrency market cap had almost reached that of massive companies like Boeing. Bitcoin...
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The amazing world of cryptocurrency has developed from a promising idea to a widely-accepted form of exchange that has worldwide recognition. The cryptocurrency exchange is no less active and thriving than the forex market or any stock exchange. It does offer certain advantages that fiat currencies or commodities do not. Here’s a look at some...
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Although several cryptographers had been toying with the idea of electronic money or digital money, with the primary objective of making “cash” totally safe, the first cryptocurrency was introduced in the Netherlands, in 1989. The use of cryptocurrency began as an attempt to combat the menace of gas stations being raided for cash. Many of...
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Did you know that the timeline or age of a cryptocurrency is measured in relation to when Bitcoin was launched? For instance, the first known cryptocurrency was introduced in 20BBTC, which means it was launched 20 years “before Bitcoin.” That’s how popular Bitcoin is. However, not all cryptocurrencies are as popular or as highly valued...
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