What are cryptocurrencies

Cryptocurrencies can be described as digital or virtual currencies that are utilized as a standard of exchange at a person-to-person level, empowering direct payments between persons.

Despite existing for numerous years, cryptocurrencies became a global sensation in 2017, when the rate of Bitcoin climbed to nearly $20.000. 2017, also the year in which cryptocurrency trading became a well-liked investment and source of active income for people all over the world.

Even though cryptocurrencies still find themselves in a phase of immaturity and early development. The technology presents immense potential. More specific, cryptocurrencies have the potential to be used as securer, more private value storage mechanism. At the same time, they’re able to process transactions in theoretically more efficient and cheaper ways.