We are living in a money driven world, but what if someone told us that there is a kind of money which is not real, doesn’t have any physical existence and is not governed by any central authority. This forms the basic concept of what is called a “Cryptocurrency”. A cryptocurrency can be defined as a digital asset which uses strong cryptographic techniques for security purposes and can be used as an exchange medium like electronic money. Nowadays there are a lot of cryptocurrencies which are present in the market like Bitcoin, Litecoin, Ether and many more (Bitcoin as the most highlighted one). The foundation of crypto currency is based on the concept of Blockchain. As the popularity for the digital currency (cryptocurrency) increased so did the market and financial environment for it. These are termed as the “Currency of the future”. The new gained popularity helped it to make its mark in the financial world and seeing the future potential in the crypto assets, many people started investing in it. Cryptocurrencies took the trading world by storm and become the new fad in the trading and market sector. As the result the prices of cryptocurrencies skyrocketed and before anyone could realize, investing in cryptocurrencies became the new infatuation of the society. With the constantly increasing share values the cryptocurrencies made their mark on the investment sector.
Choose cite format:
We are living in a money driven world. (2019, Jul 04). Retrieved October 22, 2020, from https://midwestcri.org/we-are-living-in-a-money-driven-world/