Cryptocurrency
- DX Glossary Top
- C
- Cryptocurrency
What is What is Cryptocurrency?
Cryptocurrency is a currency exchanged solely in the form of electronic data and used primarily for transactions over the Internet. The concept of cryptocurrency itself has existed since 1995, but it is said that bitcoin in 2008 was the first time a virtual currency was actually introduced to the world. With the introduction of Bitcoin, cryptocurrencies gained worldwide attention. Today, there are many different types of cryptocurrencies, and as of May 2020, there are more than 3,000 types of virtual currencies in circulation worldwide. Although cryptocurrencies are currently viewed as investment targets due to their volatile prices, they are expected to replace legal tender such as the Japanese yen in the future.