5 Different Types Of Cryptocurrencies And Their Importance

Cryptocurrency has become a common point of discussion in most finance-related conversations, gaining acceptance as an alternate mode of payment to fiat currency

Cryptocurrency has become a common point of discussion in most finance-related conversations. The digital currency has slowly begun to gain acceptance in global markets as an alternate mode of payment to fiat currency. For the unversed, cryptocurrency is a type of electronic money that is managed using blockchain technology. Blockchains are advanced computer networks that are created using mathematics and coding. Unlike fiat currencies that are issued by governments and regulated by banking authorities, cryptocurrency is completely decentralised and is not issued or regulated by any government or authority. Cryptocurrencies are divided into coins and tokens. Coins operate on their own blockchain and hold value as they are used as money for transactions. Tokens, on the other hand, are built on an existing blockchain. Here is a list of the 5 popular cryptocurrencies. For live prices of cryptocurrencies, click here. 1) Bitcoin