Cryptocurrencies Explained

You have been hearing the term "Cryptocurrency" but still do not know the meaning right? Well look now further as 9ja Official Bitcoin is here to explain what Cryptocurrency is in plain English.

Cryptocurrencies is the name given to all digital medium of exchange that can be used for transactions online. They make use of advanced mathematical technology using cryptography to secure the transactions and also to control the additional creation of the currency. In other words, Cryptocurrencies are limited in supply. Examples of include Bitcoin, Ethereum, Dash, Litecoin, Bitcoin Cash and the likes.

Prior to 2008, there had been several attempts to create a digital decentralized currency that will rely heavily on cryptographic protocols. The creation of Bitcoin in 2008 however marked a turning point in the digital space.

Bitcoin was the first and remains the most popular cryptocurrency. Today, there are hundreds of cryptocurrencies that have created. These other cryptocurrencies are often called "altcoins".

Has Cryptocurrency Come To Stay?
With the widespread popularity of Bitcoins and other digital currencies, it is evident that Cryptocurrencies is having a big impact on the financial landscape worldwide. Now the question on everyone's mind is "What does the future hold for Cryptocurrency."

Crptocurrencies are designed to be characteristically rare and their inflation grows at a slow and controlled rate. This makes them to have the potential to have an even greater impact in the financial landscape across the world. Bitcoin is blazing the trail and remains the best bet to achieve global adoption.