Digital currencies appeared and with them more hope for some and more fear for others, a completely new idea, an ingenious invention that is said to deserve the Nobel Prize in Economics for its owner.
A new financial system that no one controls or manages as it is beyond the control of countries and traditional economies.
But:
Will digital currencies stand up to the challenges and be present in the future
Why are digital currencies a threat to systems and countries in the first place
This is an example of the many questions circling in the minds of many specialists in economics and in the minds of the governments of intelligent and conscious countries. And also in the minds of many interested people.
What are digital currencies
Digital currencies, cryptocurrency, electronic currency, or cryptocurrencies are all synonyms of one meaning.
They are produced, traded and used for purchases, mainly over the internet.
Trading is peer-to-peer. That is, there is no intermediary in trading (unlike regular currencies where banks are intermediaries(
Digital currencies are decentralized currencies in the sense that there is no government or regulatory body that administers or issues them.
Registration and control of trades in digital currencies is supported by prospectors or miners
The main digital currencies
Bitcoin appeared as the first cryptocurrency in 2009, and many netizens associate the idea of cryptocurrencies with Bitcoin.
You do not know more about the rest of the currencies that appeared after him.
Bitcoin
Bitcoin is the first digital cryptocurrency, it first appeared in 2009, the true name of the inventor of this currency has not yet been revealed.
But its inventor chose the name Satoshi Nakamoto as the default name for him and for the coin to be associated with that name, the identity of which we do not yet know.
ether
It appeared in 2015 and is considered the strongest competitor to the first and gains importance in the second rank.
Its price has now exceeded $900.
Litecoin
It was published by Charlie Lee in late 2011.
The price is between 170and 350 dollars.
ripple
It was released by Ripple in 2012.
Although its price does not exceed one dollar, it is one of the most important and well-known cryptocurrencies.
name coin
It was released in 2011 and costs between $3 and $5.
Advantages of cryptocurrency:
It allows anyone, anywhere in the world to transfer money to anywhere else in minutes.
It’s private, so no one can see your account but you.
It features an ingenious security system, even big banks can hack their own networks, but digital currencies are very difficult if not impossible to hack their system.
This is due to the multitude of miners, and each of them owns a record of all financial transactions from start to finish.
None or at least an estimate Low referral commission rate at the lowest possible level, a very small referral commission and never compared to the commissions charged in traditional financial systems.
They will work on the trade movement recovery due to the unlimited ease of trading.
