What is the Purpose of Cryptocurrency

Cryptocurrencies allow for secure online payments of goods and services. There is no money, as we know it, that exchanges hands, instead it works on an internal computerized ledger system that is secured by cryptography. This makes it nearly impossible to counterfeit or double-spend. Since Bitcoin’s popularity, thousands of competitors have joined the cryptocurrency market. Using blockchain technology, the purpose of cryptocurrency is to make it easier to transfer funds directly between two parties, without the need for a third party interest, like a bank or credit card company. The potential earnings of cryptocurrency makes it an attractive investment to people who believe in the future of digital currencies. Some view this type of currency as a desirable investment for storing and accruing long term wealth and don’t believe that it will be impacted over time by the whims of the stock market or inflation/recession. Others see it as a quick “get-in-and-get-out” way to make money. And still others are skeptical that the Bitcoin success can be repeated. Whatever the reason you are interested in cryptocurrency as an online business, know that it will require a financial investment to get started and an investment in time, education and research to be successful. Do your homework before you make a commitment. Follow me on Tic Tok and Facebook for more articles on Cryptocurrency and don’t forget to sign up for my emails.