Cryptocurrency: What Is It?

Crypto & Blockchain
Cryptocurrency: What Is It? | Student FinTech

Cryptocurrency is a new type of payment system that attempts to decentralize the banking system by using blockchain technology. It is still new right now, but some students do use alternative digital currency to pay for some college expenses. 

It is not known how successful cryptocurrency will be in the future, but it will be interesting to watch for it and see if it might be another way for students to use cash without having to carry cash or credit around. 

Cryptocurrency is becoming more interesting to people including investors who would hope that Bitcoin might be there next ticket to wealth. However, some people have been disappointed in how it is done in the market, and they were afraid to invest in Bitcoin.

But keep in mind the Bitcoin is just a symbol is not the be-all-and-end-all cryptocurrency. It is believed that crypto will be the future type of exchange method.

While the jury is still out and there is still a lot of debate concerning this topic, blockchain technology that crypto is based on is going to be here for a long time whether the Bitcoin is or not. 

It is interesting to note that the technology is stronger than the original coinage that the technology has produced so that they will continue to perfect and work on the system which threatens to take away control of the centralized banking system.

This is appealing to many Americans. At the same time, it has to be weighed with the idea of whether it is worth the fact that many people must be involved in bit chain technology for it to work. 

There is anonymity in most cases, but all members must be on board and must be honest. Also, there is a fear that people might have used this type of payment system because compared to online banking, crypto cannot be tracked as easily.

We will see what the future holds regarding crypto-currency, but chances are if you were just entering college now you will see it being available within the next two years before you graduate. 

Remember that Bitcoin was just the primary top of cryptocurrency that popped up at the beginning, but blockchain technology involves several different types of currency coins that are all digitally made.

No doubt there will be many more kinds of crypto-currency introduced shortly as it becomes a more mainstream technology and a method for doing business online.

You can read more about blockchain technology and decide for yourself what you think about the future of this unique form of currency.