Business terms and jargon explained. Your business dictionary

What is Cryptocurrency

This is virtual currencies based on mathematics on the internet. Used instead of hard currencies (know as fiat currency) and is produced by solving a mathematical problems. These currencies have become popular in an inflationary world where money can be printed but is not backed up by gold. Bitcoin, litecoin, quarkcoin, megacoin, maxcoin are example,s, however there are hundreds with different degrees of capitalisation, prices, security and quantities created. See our itcoin page for prices.

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Term created / updated 2018-05-18 12:12:52

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