Cryptocurrency, also known as cryptokitty, is one of the newest forms of money that is being used today. A cryptocoin, cryptokey or cryptokitty is any digital asset developed to function like a virtual medium of exchange that tracks monetary ownership data in a virtual ledger usually based in a computerized format. This virtual ledger is typically open to the public, although some systems may limit access to a limited number of authorized users at a time. Regardless, of how this virtual system of currency trading functions, there is still no need to have a physical gold or silver or any other form of precious metal to back your trades in the Cryptocurrency market.
The main feature of Cryptocurrencies is that it allows for free and instant transfer of funds between parties without the need for intermediary businesses or companies that would normally charge transaction fees. Since all work on peer-to-peer principle, no third party is needed in the process of trade transactions. The major benefit of using Cryptocurrency is that it reduces risks of fraud and hacking. Since no physical asset is ever at stake in the transaction, there are no transaction fees involved which means that anyone can enjoy the benefits of using Cryptocurrencies without worrying about their personal investment portfolios.
There are currently four most popular Cryptocurrency in use today – Monero, Dash, Zcash and Scrypto Currency. These four currencies are the ones that experienced the most growth in terms of volume and trading in the past two months. The good thing about investing in any of these four is that most of them will remain free of transaction fees during the 2018 year. Other notable upcoming currencies include Stellar Lumineer, LTC, Pecunix, and IEX.