The Ultimate Easy Introduction to Cryptocurrencies

The current state of cryptocurrencies, while having come a long way, continues to have a certain Wild West feel to it. A high number of people and organizations have jumped in to get a piece of the action. It’s chaotic, it’s risky, it’s exciting, and it’s rapidly changing.

There’s little doubt that the idea of new currencies without the need for banks, governments, and other intermediaries is disruptive and impactful to the status quo. This notion makes many exhilarated, and more than a few quite uncomfortable.

Are Cryptocurrencies Money, Investments, Both, Or Something Else?

Cryptocurrencies, commonly abbreviated to cryptos, have value because we say they do. That’s the core thesis of contemporary money. Provided we’re prepared to accept it as payment, there’s a steady supply, and that it can be a store of value, then that’s just enough to make it workable.

In the few short years since the original crypto, Bitcoin, emerged, thousands of alternative cryptocurrencies, or altcoins, have surfaced. People are using these altcoins to support, manage, buy and sell…