Access the world’s most lucrative trading arenas
Open account

The Cryptocurrency Market: What?! Everything You “Awe” to Know

You slept knowing monetary funds only circulate through cash notes and within government-regulated banks, including investments and currencies. Waking up the next morning, cryptocurrency market, the ”Bitcoin” in particular ,waved hello and you discovered faceless people are earning billions of dollars out of it without state intervention.

You said that’s right - it certainly deserves a “what?!”

The Cryptocurrency market consists of virtual transactions with digital currencies using an encrypted database deregulated by a central bank. It can simply be referred to as “digital cash” based on cryptography.

To clear the air more, cryptocurrencies can be simply explained as “limited entries in a database no one can change without fulfilling specific conditions.” These entries are the money traders capitalize on.

Satoshi Nakamoto, the inventor of Bitcoin -- the pioneer of the cryptocurrency market -- unintentionally built the concept out of trying to devise a peer-to-peer electronic cash system. He intended to create such a network to prevent double-spending without a server or central authority.

Thanks to the initiative, the world now clicks their way to high digit amounts.


The Cryptocurrency market is based on a network of peers where everyone has a record of all transactions taking place including every account’s balance. Within a blockchain, exchanges and storage of electronic money occur using encryption schemes to control the creation of financial units and verify the transfer of funds.

One of cryptocurrencies’ major aspect is the confirmation of peer-to-peer transactions on funds. After a transaction gets confirmed by “miners,” it cannot be retracted. So its actually a consensus-based process, secured not by people nor government but by Math.



Currently, Bitcoin has a deregulated market cap of $11,382,240,050, not to mention the other existing cryptocurrencies. It’s now for you to decipher.