What You Need To Know About Bitcoin
Cryptocurrency and Bitcoin are two popular words these days, but do you really know what they are? Bustle has answered some of the big questions that you may have about them.
- What is cryptocurrency? It is a form of digital money that is designed to be secure and, in most cases, anonymous.
- Why do people use them? People who don't trust banks or don't like having their money tied to banks or their government really like cryptocurrency. The fact that it is (currently) unregulated and anonymous also helps with its' appeal.
- Is Bitcoin the only cryptocurrency? No! There are about 1,400 cryptocurrencies out there right now, and together they make up about $704 billion in value.
There is no prediction of where cryptocurrencies are headed, but some restaurants are considering accepting it as payment at their establishments. Whether it dies out before 2018 is over, or outlives us all, it's an interesting new invention that seems to be taking off like a rocket.