What do I need to Know about Cryptocurrencies

Today cryptocurrencies (Buy Crypto) have become a global phenomenon known to most people.

While many have now heard all about Cryptocurrency, many people still think its still somehow geeky and not understood because it never occurs to them that there are other forms of currency other than “real money” which they can see and spend. However, banks, governments, and many companies are aware of its importance.

In 2016, you‘ll have a hard time finding a major bank, a big accounting firm, a prominent software company or a government that did not research cryptocurrencies, publish a paper about it or start a so-called blockchain-project. (Take our blockchain courses to learn more about the blockchain)

Few people know, but cryptocurrencies emerged as a side product of another invention.

Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency. There had been many attempts in previous years to create a digital currency but all had failed because they did not have an understanding about blockchain technology which was only discovered and researched as a side effect of the initial BitCoin project.

The rise of the Cryptocurrencies

As the tech literacy of the population increases, acceptance of cryptocurrency as a legitimate store of value follows, and it boomed. Titles along the lines of ‘Bitcoin price hits new all-time high’ and ‘Ethereum price surges’ are starting to perforate the general public’s news feed. What we know for sure is that people who were once skeptical of Bitcoin and the technology behind it are slowly understanding and getting increasingly involved with crypto. As at the time of writing, the market cap of the entire crypto space is at 30.9 billion USD. It was 20 billion just four months ago. What would it be four months from now?

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