Cryptocurrencies are the new online currency

When we buy things or services, we have to pay for them. This is quite logical. Most of us use paper notes and credit cards. But nowadays, cryptocurrencies are booming. These can be used within internet payments and their distribution is considerable. If you have no idea what to make of this term, here is a summary of valuable information.

What are cryptocurrencies?

It is a form of electronic money or digital currency. So it is not something tangible. You probably won't find cryptocurrencies in mobile banking. But this is basically just a matter of time. You can use other modern tools that allow you to manage this or that cryptocurrency. There are several of these in the world. We will introduce you to the most popular ones in the table below.

Cryptocurrency	Shortcut
Bitcoin	BTC
Ethereum	ETH
Litecoin	LTC
Dash	DASH
Bitcoin cash	BCH

On the market more and more shops and institutions are growingthat are capable of accepting this digital currency, contributing to a more massive expansion.

The main advantages of digital currency

You may be asking yourself, why did a cryptocurrency come into existence when we have had conventional money for many years? There are several reasons. The first is decentralization, or a currency without any central authority.. In the case of cryptocurrencies, there is no intermediary and there are basically no known boundaries. Cryptocurrencies can be used anywhere in the world.

At the same time, the anonymity of transactions and very strong encryption associated with appropriate unbreakability should be highlighted. Cryptocurrency is also associated with low or zero transaction fees and high transparency. There are no rejected payments in the world of this digital currency.

Where can you get cryptocurrencies?

Cryptocurrency mining used to be very popular, but is no longer very profitable. Only in the case of very large players in the market. However, you can purchase the corresponding cryptocurrency on special exchanges. The exceptions to this rule are not Cryptocurrency ATMs also located in the Czech Republic. And it is true that similar devices and ways of acquisition are only increasing.