A Cryptocurrency, cryptosystem, or cryptocoin is any virtual asset designed to function like a physical commodity, where the value is determined by some pre-existing criterion. This concept is not entirely new, as in the past centuries, gold and silver coins were the only physical assets that could be physically owned by individuals. Today, a wide variety of financial instruments are traded in the virtual world, including stock, bonds, derivatives, and numerous other assets. However, one asset has remained immune to all other assets, and that is cryptocoins.
The main appeal of a Cryptocurrency, such as the Cryptosystem network, is that no central organization controls it. All cryptography is handled by the users themselves through an online network that is operated by the system’s users. Thus, the entire infrastructure of the Cryptocurrency is managed by its users themselves, with no one in between. This allows for freedom in the form of decentralization. Decentralization and freedom are two important characteristics of the entire Cryptosphere, which is why many people believe that a Cryptocurrency should be free from any type of government regulation.
While some see the appeal of a Cryptocurrency as being in its ability to be free from government oversight, it is also because of the inherent properties of any type of decentralized network. Namely, a distributed economy that functions without any one central server and everyone acting in their own personal interests. By decentralizing the economy, we are reducing the number of controls centralized entities can exert over their citizens. In the case of Cryptocurrencies, the lack of controls results in less control over the individuals using the system, and this is why many view the Cryptocurrency as an attractive alternative to traditional businesses.
One of the appealing aspects of investing in the decentralized aspects of the Cryptosphere is that the use of Cryptocurrencies is completely anonymous. Unlike conventional methods of currency exchange where you have to deal with government intervention and increased privacy issues, the use of a Cryptocurrency is completely unnoticeable and anonymous. As a result, Cryptocurrectains enjoy a low market cost. Because there is very little or even no regulation or restrictions on the use of Cryptocurrectains, the profits made through Cryptocurrectains are extremely high. With such high profits potential, it is not surprising that the Cryptocurrency market is growing at a rapid rate and well over the same pace that the Internet did.
In a future world, it may be possible for every individual to engage in financial activity without any form of government influence or intervention. This would mark a major advancement in human civilization that will leave all of us with more leisure time and an unfettered economy. The underlying infrastructure for a decentralized economy is the use of Cryptocurrectains, which represent the backbone of any properly decentralized economy. A properly decentralized economy relies on a network of individuals and businesses working together, and the core function of the network is to maintain an environment of fairness and transparency.
There are several distinct types of Cryptocurrencies. One such type is the most recently termed “ICO” (exchange traded fund). The purpose of this type of Cryptocurrency is for business or individuals to engage in transactions with each other without the need for a third party intermediary such as a bank or a broker. Different Cryptocurrectains include tokens, stocks, commodities, futures and forex pairs. There are currently severalICO’s in circulation which are: Forex Autotrading, FAP Turbo, LMAX Forex, MegaDroid, Qwest Moneybookers etc.