What is Cryptocurrency

August 4, 2018 0 By admin

A cryptocurrency is a digital or virtual money designed to work as a medium of exchange. It applies cryptography to secure and check transactions as well as to control the creation of new divisions of a particular cryptocurrency. Essentially, cryptocurrencies are limited enterings in a database that no one can change unless following condition are fulfilled.

cryptocurrency market

As cryptocurrencies are growing increasingly mainstream, law enforcement agencies, tax administrations and legal regulators worldwide are trying to understand the very notion of crypto coins and where exactly do they fit in existing regulations and legal frameworks.