The Exchange (DCE) is a business that allows its clients to trade or exchange cryptocurrencies. A cryptocurrency exchange can be a financial institution that collects transaction fees for its services or a trading platform that simply charges fees for each transaction. A crypto exchange can be a business with a physical presence or a strictly
In order to analyze the opportunities, risks and challenges associated with cryptocurrencies, it is necessary to become familiar with the definitions, characteristics and key concepts that build their foundations. Next, we will discuss the basic terminology associated with cryptocurrencies. Bitcoin Bitcoin is the branded cryptocurrency that most users are familiar with. This cryptocurrency operates
According to Mankiw, N.G. and Ball, L.M. (2013), In economics money is defined as an asset (a store of value) which functions as a generally accepted medium of exchange, i.e., it can be used directly to buy any good offered for sale in the economy. Types of Money 1. Fiat money: It has no intrinsic
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What is the view of famous people about cryptocurrencies? We have selected the best quotes from remarkable people in various fields, and below we will see what they have to say about the invention of cryptocurrencies, Bitcoin, and blockchain technology. “I think the internet is going to be one of the major forces for
The cryptocurrencies can be held through online accounts. A new cryptocurrency account does not contain cryptocurrencies. Each account consists of a private key and an address, which functions as a bank account number. The private key acts as a PIN (secret Persoal Identification Number) and is used to control ownership of the
Bitcoin and its mining are part of the growing role that technology plays in modern societies. In this context, the use of Bitcoin as a trading medium seems to be preferred because (Red, 2016a, Wikipedia, 2017): Provides freedom of payment: it is possible to send or receive any amount of money immediately, anywhere in the