What are crypto currencies and why you need to know about them
A cryptocurrency (crypto currency) is a digital medium of exchange that functions similar to traditional money, but has no physical equivalent and is only in digital form. The first major cryptocurrency that kind of started it all was Bitcoin in 2009, and since then a lot of other alternative cryptocurrencies have become available thanks to the huge popularity that Bitcoin has managed to generate. Cryptocurrencies are a form of digital currency that uses the principles of cryptography to implement a distributed, decentralized and secure economy where you can mine and trade them. When comparing cryptocurrencies to fiat money, the most notable difference is in how no group or individual may influence significantly the production of money (in the case of crypt it is called mining), instead only a certain amount of cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is bounded by a value both prior defined and publicly known. Dozens of cryptocurrenc...