The cryptocurrency market has proven itself resilient despite some big setbacks, and more investors are wondering if now is the time to invest.
Here Investing News Network takes a close look at trends observed in the market and what the future landscape of cryptocurrency, commonly called crypto, might look like.
What are cryptocurrencies?
Cryptocurrencies are digital currencies. While their units are sometimes referred to as coins, they differ from traditional currencies in many ways.
To name just a few, first, cryptocurrencies are never tangible and instead exist on a digital network that uses blockchain technology. Additionally, unlike fiat currency, they are not backed by any government authority or commodity such as central banks or gold. They can also be used around the world with no exchange rate as they don’t have borders, whereas travelers typically lose money exchanging their country’s fiat…
