GD Topic Crypto Currency

Crypto Currency: A bright future or just a fad

GD Topic Crypto Currency

Crypto Currency: A bright future or just a fad?

What is crypto currency?

A crypto currency is a digital or virtual currency that uses cryptography to secure, create and control its transactions. Unlike traditional currencies, which are issued by central banks, crypto currency has no central monetary authority. Bitcoin is the first crypto currency which came to public notice in 2009. Following this a number of other crypto currencies, such as Ethereum, Ripple, Litecoin, Cardano etc. exist in the market. Crypto currency can be exchanged for other currencies, products, and services. In recent months, Economists, Central Bankers and Monetary Experts have expressed their reservations on the future of this currency. Investors and Enthusiasts of this currency are however bullish.

Key facts and figures:

According to “Global Crypto Currency Benchmarking Study” conducted by Judge Business School, University of Cambridge, these are key facts about the size and usage of this currency:

The total crypto currency market capitalization increased more than 3x since early 2016, reaching nearly USD 25 billion in March 2017.

The current number of unique active users of crypto currency wallets is estimated to be between 2.9 million and 5.8 million.

 At least 1,876 people are working full-time in the crypto currency industry, and the actual total figure is likely well above two thousand as large mining organizations and other organizations that did not provide headcount figures are added.

Bitcoin is the most widely supported gd topic crypto currency among exchanges, wallets and payment companies. The leading crypto currencies are Ethereum, Bitcoin Cash, Litecoin, Ripple and Iota.

Vanuatu, a Pacific Island Nation, located in the South Pacific Ocean became the first nation to accept Bitcoin in Exchange for as payment for its citizenship program.

While countries such as the United States, Canada, Australia, Japan etc. allow trade and investments in crypto currencies; there are countries such as Iceland, Vietnam, Kyrgyzstan and Bolivia where crypto currencies are totally banned.

Readmore…