What is cryptocurrency?
A cryptocurrency is the native asset of a blockchain network that can circulate without the need for a central monetary authority such as a government or bank. A cryptocurrency is issued directly by the blockchain protocol on which it runs. Cryptocurrencies can be exchanged for goods and services, though they often are used as investment vehicles. Cryptocurrencies are Decentralized which means they do not rely on a central issuing authority. Instead, cryptocurrencies are built on a blockchain or other Distributed Ledger Technology (DLT), protocols that allows simultaneous access, validation, and record updating in an immutable manner across a network that’s spread across multiple entities or locations. Crypto utilizes cryptography to secure the underlying structure and network system and manage issuance and transactions.
Advantages of cryptocurrency
Crypto makes it possible to transfer value online without the need for a middleman like a bank or payment processor, allowing value to transfer globally, near-instantly, 24/7, for low fees. Online platforms such as cerusmarkets.com have made buying and selling cryptocurrencies easy, secure, and rewarding. It only takes a few minutes to create a secure account, and you can buy cryptocurrency using your debit card, bank account, or favorite payment provider. Cerus Markets allows the buying and selling of fractional coins, giving you the ability to easily enter markets which historically have had expensive entry points. You can buy as little as a dollar or as much crypto as you want. Crypto aims to solve some of the challenges faced by fiat currency across foreign exchange, global payments, and other areas. Crypto continues to gain acceptance from consumers, technologists, regulators, merchants, and entrepreneurs as an alternative to traditional fiat currencies. Because of this, the adoption of cryptocurrency as an alternative medium of exchange and store of value has grown exponentially in virtually every market across the globe.