CRYPTOCURRENCY

Cryptocurrencies have become hugely popular and valuable in recent years, but what are they? How do they work? 

Cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple are all completely digital currencies. One of the many reasons people see value in crypto is because they are decentralized and not regulated by the government. When the US government decides to print more dollars, the overall value of each dollar decreases. This is called inflation. Currencies such as Bitcoin are not subject to this type of inflation because there is a limited supply, meaning nobody can issue more of them. In addition, all transactions are recorded on the internet and verified with something called a blockchain. 

While cryptocurrencies are incredibly secure and efficient, there are some downsides. They are extremely volatile. This means they are risky investments, as their values fluctuate drastically. Many brilliant people, such as Elon Musk, predict cryptocurrencies will be used universally in the distant future, whereas some believe they hold no value at all.