What Are Cryptocurrencies And How Are They Different From Real Money? #bitcoin #ethereum #dash @matrixthinker #blockchain #books #ripple #digitalcurrency #cryptocurrency

The Internet has changed the way we use money to pay for goods and services. In fact, we are quickly moving to a cashless society driven by cryptocurrencies like Bitcoin and, digital currencies like Stream. But what are cryptocurrencies, digital currencies and how are they different from real or fiat money? Cryptocurrencies A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. Bitcoin, created in 2009, was the first decentralized cryptocurrency meaning it is not regulated by the banking system. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/central banking systems. The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger. Digital Currencies Digital currency (digital money or electronic money or electronic currency) is a type of currency available only in digital form, not in physical (such as banknotes and coins). Digital currencies are forms of money you can buy online through certain platforms that give you access to products in this platforms. For example, you can use real money (fiat money) to purchase "tokens" to purchase characters for the game "Farmville". The token are a form of digital currency that can be used to purchase goods and services on the platform. Fiat Currencies Fiat money is a currency without intrinsic value established as money by government regulation. It is the paper money or coins we trade in bricks and mortar stores or online for goods and services. It has an assigned value only because the government uses its power to enforce the value. BITCOIN RESOURCES: Bitconnect - Bitcoin ExchangePaybis - Bitcoin WalletPaxful - Bitcoin WalletVirvox - Bitcoin WalletChangelly - Bitcoin WalletCoinpayments - Bitcoin Wallet SPONSORED BY:

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