“Cryptocurrency” is a digitally availed currency. It uses cryptographic methods for security purposes to avoid forging. Individuals often access public and private keys for currency transfer.
Cryptocurrency is a proclaimed and mandates currency with very less government interference. Users should have consent about their usage and then can agree on this currency as a medium of exchange.
This mode of currency is not limited to the boundaries of a particular nation/state. Thus, it is not authorized by a specific body of functioning, like the Central Bank of any particular country.
Cryptocurrency behaves similar to pure metals like gold and silver. But, as these transactions are unnamed and non-detectable, it creates a comfort zone for many illegal activities such as drug trafficking. On the count of having no essential legal control over transacting, Cryptocurrency has created a shift of power from institutions to individuals.
The “History of Cryptocurrency” dates back to very recent times with regular changes in the aesthetics of the market as a whole. So, it is a bit confusing to conclude the advantage of the investment.
Though it is advised to invest in the lesser risky coins as they have been in the market for the longest and have comparatively higher volume. Bitcoin, LiteCoin, and Etherum are the safest of Cryptocurrencies in the world.