What the Crypto (Infographic)

Birth of Digital Currencies

The tech boom of the 1990s gave birth to the idea of digital currencies. Companies like DigiCash and Flooz were one of the first ones who attempted to introduce it to the market but failed inevitably. Financial issues and fraud are some of the reasons for their failure. Because of this, the conception of digital currencies took a step back for almost two decades.

But in 2009, Satoshi Nakamoto, a programmer (or perhaps a team of programmers), who to this day remained anonymous, introduced Bitcoin to the world. According to Satoshi, Bitcoin is a “peer-to-peer electronic cash system” that’s totally decentralized. This only means that there are no authorities managing it or even servers associated with it.

Thanks to the popularity of Bitcoin, other cryptos have become famous, some of which have even surpassed the $1 billion mark in total market cap.

But what is exactly a cryptocurrency? In the simplest of terms, these digital coins are limited database entries that cannot be modified by anyone unless specific conditions are fulfilled.

Crypto coins can only be produced in two ways – by the process called mining, or after the company released coins to circulation, without a possibility to mine them. Miners can only create a particular amount of digital coins in a given time because the total supply is predefined by the system. No one in the network can break this part of the agreement.

Today, people see this innovative technology as a good investment opportunity. Stories of Bitcoin investors becoming millionaires are common these days. But keep in mind that with any investment, there are risks involved, and cryptocurrencies are considered to be a high-risk investment. Compared to other assets, the market value of these coins can fluctuate in a snap of a finger. Furthermore, there’s always a possibility that it’ll be banned in some countries.

If you’re interested in investing, there are a plethora of choices available out there, but Bitcoin has always been the favorite choice. However, we’ve seen a fall on its market share in the recent months. Like with any type of investment, it is crucial to be always updated on the market value of your cryptocurrency, as well as any related news.

To learn more about the leading cryptocurrencies available on the market today, here’s an infographic with the essential things you need to know about top 25. It will help you to make a sound decision on which one you should invest.

Originally published at: https://bitcoinplay.net/what-the-crypto-infographic



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