In the last two decades, the world has rapidly transformed itself into becoming a tech-savvy world. Today, payments are cashless, purchases are digital, and data is stored on clouds. However, the question lies if we are enough by being adept with today’s technology. Unfortunately, the answer is no. Those who learned it in time progressed, and those who did not adapt to the change fell behind in the race. Today, people, especially youngsters, like to think ahead of time, plan accordingly and develop technology that would suffice the human race for years to come.
What Is Cryptocurrency?
In such a scenario, many have bet that beyond stocks and investments, cryptocurrency is predicted to be the future of transactions. However, it is easier to understand the tangible than understanding what one could not see or feel. Cryptocurrency could be defined as a form of payment that can be exchanged online for goods and services. Companies often issue their currency, which they call ‘tokens’ or ‘points’. One could easily purchase a good or service from a particular company by giving them those tokens. However, the tokens could only be bought using actual currency. For a better understand, one could associate these tokens with currency chips in casinos. One could spend as many chips as they desire but use his money to buy new tokens.
More than 14,500 cryptocurrencies are traded publicly worldwide, and more continue to become a part of the market. The grab the investors’ attention by…