What are Cryptocurrencies?

Cryptocurrencies are peer-to-peer, digital assets that operate on the blockchain. Cryptocurrencies fulfils the three traits of money: medium of exchange, store of value, unit of account. On top of that , there is the added benefit of security, privacy, speed and low cost over the current forms of currency.

With Bitcoin being launched in 2009 by pseudonymous developer Satoshi Nakamoto, it was the first working example of a peer-to-peer decentralised digital currency. Currently, there are thousands of different examples of cryptocurrencies yet Bitcoin still remains the largest and most well known cryptocurrency in the space.