Cryptocurrency investments face challenges

Article Excerpt

Cryptocurrency is a form of digital, non-government-issued “money” that can be exchanged on the Internet without the intervention of a conventional bank or another intermediary. In general, cryptocurrencies have underlying software code that enable their creation and allow users to verify and secure their transactions. Blockchain technology provides an official record of every transaction and every Internet address that owns a specific cryptocurrency. Cryptocurrencies can be generated by an initial issue and by “miners” who verify transactions in each cryptocurrency. The underlying code of each crypto controls how many can be issued. The largest cryptocurrency is bitcoin with a current value of roughly $600 billion, followed by ether valued at $300 billion. This compares to the value of all notes and coins in circulation globally of $6.6 trillion and the $10.9 trillion value of all the mined gold. The case for cryptocurrencies Cryptocurrency enthusiasts point to the increasing digitization of the global economy and believe that cryptocurrencies can play a role in that transition. The…

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