2009 saw the first development of a cryptocurrency (Bitcoin), and since then the world of digital currency has never looked back. Cryptocurrencies differ from traditional currencies comes in the sense that they have no centralized authority. So, with traditional currencies, there are banks and other financial institutions that handle the recording of transactions. However, cryptocurrency transactions occur directly between the parties. Cryptocurrencies also have their own a digital ledger called the blockchain which records all these transactions. There are currently over 1300 cryptocurrencies available right now, so it can be very difficult determining which ones to invest in. Here are some of the best cryptocurrencies to take a look at:
Bitcoin is the current leader in the world of cryptocurrency. They use a blockchain that currently is strictly for peer-to-peer financial transactions which may change in the future. 2017 was a groundbreaking year for Bitcoin. Its value was at $900 at the start of the year, and it rapidly grew to $6,300 by October. Since then, it has even surpassed the $10,000 mark and is in a healthy direction to continue its growth in 2018.
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