Five facts about Cryptocurrencies

So you must have heard about Bitcoins and although you know what it does, you don't actually know how it works. I am going to write another article on how bitcoins work but In this article, I will be listing out five facts you need to know about Cryptocurrencies .  Let's start

1 There are loads of them
Just because you have heard of only bitcoins does not mean it is the only cryptocurrency. There are other cryptocurrencies. Some of them are
Limecoin, peercoin, Name coin to mention but a few

2 It can be exchanged for Fiat money
Fiat money simply means real currencies like dollars, pounds. Cryptocurrencies can be exchanged for Fiat money. There are many shops all over the world where you can go and find a machine that can be used to withdraw bitcoins in fiat money. There are also different websites that can be used to exchange cryptocurrencies for real money. Just use a search engine and you will see everything you need.

3 Who created Bitcoins??
Bitcoins was created in 2008 by someone or something called Satoshi Nakamoto. Till date, no one knows who Nakamoto is and the anonimity of bitcoins is one of its valued property.

4 It can be used to buy real stuff
There are loads of websites that accept cryptocurrencies like bitcoins for purchases. Most of them are businesses with strong ties to the Web.  There are coffee shops that you can  walk in to and pay for your coffee with bitcoins.

5 It is very unstable
Cryptocurrencies tend to be very unstable. They fluctuate always. They can either gain or lose value in a matter of minutes. So for those looking to invest in it, although it might be gaining value as of the time you are seeing it, it does not mean it will actually keep on increasing in value.

Personally, I think cryptocurrencies are one of the developing technologies that will change the face of the world in this present generation and everyone should start looking into them if you have not started already.

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