Cryptocurrencies originally had a bad reputation with many critics associating them with havens for money launderers and criminals. But these digital currencies have been advancing slowly and are today not only technologically advanced, but also popular among the general public. The technology behind cryptocurrencies is very powerful and this has seen it having many applications in different sectors that range from the media to healthcare. Basically, a cryptocurrency is a digital asset, which uses cryptography for security. Being digital currencies, cryptocurrencies can be used to buy or sell goods and services.
Although cryptocurrencies are being adopted by the general public, their use is largely confined to early backers or adopters. For example, Bitcoin only has 10 million holders globally, with almost 50% of these holding the currency for investment only. But for early backers, the advantage of the cryptocurrency they hold is only theoretical. This means that for a cryptocurrency to have substantial tangible benefits there must be mainstream adoption from the general public. Much of the security advantages and popularity of cryptocurrencies are mostly derived from their technological innovation. Click here to know more about #cryptocurrency.
Although cryptocurrencies are being adopted by the general public, their use is largely confined to early backers or adopters. For example, Bitcoin only has 10 million holders globally, with almost 50% of these holding the currency for investment only. But for early backers, the advantage of the cryptocurrency they hold is only theoretical. This means that for a cryptocurrency to have substantial tangible benefits there must be mainstream adoption from the general public. Much of the security advantages and popularity of cryptocurrencies are mostly derived from their technological innovation. Click here to know more about #cryptocurrency.
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