Cryptocurrency is a digital currency that utilizes cryptography for the secure transfer of funds online. Based on the revolutionary blockchain technology, cryptocurrencies make decentralization possible. This trade freedom has ushered in a new era in the exchange of currencies, with some even predicting it to give rise to a dominant global currency.
Due to the astronomical boom in crypto-trading in recent years, several powerhouses in the banking & finance industry have devoted a lot of resources into blockchain research. The trend began in 2009 with the introduction of Bitcoin, the first cryptocurrency. Eventually, hundreds of other cryptocurrencies entered the market, and the Bitcoin fever managed to leave a sweeping impact on digital history.
Cryptocurrencies are diverse and multipurpose. Here are a few interesting facts about them:
- Over 1700 Cryptocurrencies In Existence: The immense growth of crypto-trade has given birth to over 1700 cryptocurrencies in official records, and this number seems to be on a perpetual uptick.
- Over 500 Exchanges Globally: A cryptocurrency exchange allows customers to trade cryptocurrencies for other assets. There are over 500 cryptocurrency exchanges at the global level.
- Your Identity Is Untraceable: All transactions in crypto-trading are done through a pseudonym. You get a random 30-digit online address through which you transfer funds. Although you can analyze the transaction flow, it’s practically impossible to trace down someone’s real identity through these addresses.
- You Can Also Play Crypto Games: The merging of gaming and cryptocurrency seems like an intriguing idea. Game developers are increasingly integrating blockchain technology and cryptocurrencies into their gameplay. Not only is this a fun and engaging way to learn about cryptocurrencies, but you can also earn Bitcoin, Ethereum, etc. from them.
- Anyone Can Create Their Own Currency: The easy accessibility of the platform allows anyone to create their own coin or token. Unlike paper currencies, the creating authority doesn’t have to be a big financial institution or government body.
The digital age has brought a paradigm shift in the way we view currency exchange, and this ‘crypto-craze’ seems to be at the forefront of the reform. While the world of crypto-trading is filled with countless possibilities, it can seem like a tedious task to navigate through it all alone. Marketscap.com simplifies the entire trading process for you. It offers 800+ cryptocurrencies, generous trade margins, 24/7 professional support and the ability to fund your accounts with fiat currencies like USD, GBP, and EUR.
