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What is it? Can you trust it? How is it used? – Press Enterprise

01 Sep What is it? Can you trust it? How is it used? – Press Enterprise

Posted at 17:11h in Cryptocurrency News by

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The words cryptocurrency, bitcoin, and ethereum may sound familiar, but what do they mean?

Cryptocurrency is a type of digital currency. In simple terms (on a very complex subject), it is limited entries in a database that no one can change without fulfilling specific conditions. It is designed to be secure and, in many cases, anonymous.

Cryptocurrency is sometimes considered digital gold. It is a form of money that is not issued by a government, with a fast and easy means of payment within a worldwide scope. But buyer beware, it is also a means for speculation in a fast-growing and volatile market.

According to Investing.com, there are about 2,000 types of cryptocurrency. Bitcoin, ethereum and ripple are a few of the largest cryptocurrencies based on their current market capitalization. The total market share of cryptocurrencies is currently more than $200 billion.

The practice of using cryptocurrency to buy goods and services has been established by some retailers including…

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