A cryptocurrency is a digital asset conceived for its use as a medium of exchange. It uses blockchain cryptographic technology to secure transactions, control the supply of additional units, and verify transfers. In short, cryptos are decentralized forms of digital currency.
Cryptos are stored in ‘wallets’ that can take various forms. For instance, Bitcoins can be stored both in online or offline electronic wallets. Launched in 2009 by an individual or group using the pseudonym of Satoshi Nakamoto, Bitcoin was the very first cryptocurrency. It has since shaped our current market and paved the way for the many new alternatives that exist today.
Cryptocurrencies are a product of digital societies. Naturally, they run 24/7. You can trade cryptos at any point of the day or week. Unlike stocks and other commodities, Cryptocurrencies are not traded on regulated exchanges. Instead, these can be traded at any time across an increasing number of ‘crypto’ exchanges such as Phemex.
What are the most popular cryptocurrencies?
Aside from Bitcoin, there are numerous other popular cryptos that can be traded on Phemex. The most popular of these cryptocurrencies are Ethereum, Ripple, and Litecoin.
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