What is cryptocurrency?

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Cryptocurrencies (or Altcoins) are certainly a global phenomenon. Most people at least heard of them, while an increasing number actually owns and invests in them.

No too many years ago the only people who had some knowledge about cryptocurrencies, were nerds sitting at their computer screens. Today you can keep multiple cryptocurrencies in your phone and use them to purchase a luxury car or a villa in Switzerland.
Crypto ATMs pop up all over the World and buying crypto is easy for anyone with even basic computer literacy.

But what ARE the cryptocurrencies?

In the simplest terms, they are basically a type of virtual money. Unlike with standard currencies, there isn’t any central Bank (or any other entity) that controls them. Their availability is based on math and can’t be adjusted by any one person or a group of people.

There were many failed attempts at creating a cryptocurrency already since decades, but it was BitCoin, which finally succeed in 2009 as the first.
A lot has happened since then and today there are thousands of Altcoins available and more come into existence every day.

Did you already start your adventure with cryptocurrencies? If so, share with us what coins you have in the comments below. And if not – we invite you to join this global phenomenon and discover the world of digital money. You can start HERE.

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