Top 4 questions about cryptocurrency

Written by Evgenia Sidorova
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What is fiat money?

Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government. Most modern paper currencies are fiat currencies, including the U.S. dollar, the euro, and other major global currencies

How many cryptocurrencies exist?

It is impossible to name the exact number of existing cryptocurrencies, because the cryptocurrency code is open and everyone has the opportunity to create their own version of the coin. At the moment, the estimated number of cryptocurrencies on the market is about 900.

What was the first cryptocurrency?

The first cryptocurrency that was recorded in the digital data was bitcoin, created in the late 2009 and still as of now the best cryptocurrency known in the marketplace.

Why should I get involved in crypto?

The answer is simple because most people find it beneficial. Everyone has the opportunity to mine coins or just invest in them. The expanding ecosystem provides many opportunities to multiply your capital. By investing only $100 in cryptocurrencies, one could earn up to $10,000. And now this opportunity is still available.

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