What is cryptocurrency?
Cryptocurrency is a fast-growing, encrypted digital currency that allows you to send money and purchase goods and services. It is swiftly revolutionizing the financial industry in big ways. The beauty of Bitcoin, and other crytptocurrencies, is that it is globally recognized and accepted.
The benefits of this form of secure currency include:
- Lower transaction fees
- Easily accessible and accepted worldwide
- Not controlled by a centralized entity
- Allows users to be in control of their currency. Essentially, with cryptocurrency, you are your own bank.
How can I purchase cryptocurrency?
There are many different types of cryptocurrency, such as Bitcoin, Litecoin, and Ethereum. While each have unique aspects, they all offer the same capability to purchase goods and services. Just as you may exchange your US dollars for foreign monies such as Pesos or Euros, cryptocurrency is purchased and exchanged in the same way. You can easily purchase cryptocurrency from online digital currency exchanges via your phone or computer. Your digital currency will then be stored in your “digital wallet” and you’ll be able to instantly use the cryptocurrency.
A few websites in which you are able to purchase cryptocurrency include Coinbase, Kraken, and Gemini.
For more information on cryptocurrency, check out the videos below: