Things to know about crypto and cryptocurrency trading
What is crypto or cryptocurrency? Cryptocurrency is a type of digital currency that exists electronically. There is no physical coin or bill unless you use a service that allows you to cash in cryptocurrency for a physical token. You usually exchange cryptocurrency with someone online, with your phone or computer, without using an intermediary like a bank. Bitcoin and Ether are well-known cryptocurrencies, but there are many different cryptocurrencies, and new ones are continuously being created. Virtual currencies have gained in popularity since their introduction into the financial system a few years ago. Bitcoin, created by Satoshi Nakamoto in 2009, was one of the most successful ones for a long time. However, disagreements within the bitcoin community led to its recent schism and subsequent launch of bitcoin cash, and the appearance of other decentralised e-currencies are further fragmenting the digital payments landscape. For instance, the first “Sharia-compli...