US, China and the race for digital currency
Paypal co-founder Max Levchin said the United States runs the risk of losing the digital currency battle if it doesn't fully digitize the dollar.
Three men charged with $722M cryptocurrency Ponzi scheme
Matthew Goettsche, 37, was arrested Tuesday in Colorado, while Jobadiah Weeks, 38, was taken into custody in Florida and Joseph Abel, 49, was arrested in California, according to the U.S. attorney's office.
US accuses cryptocurrency expert of violating North Korea sanctions
Suspect told North Koreans they could use cryptocurrency to 'achieve independence from the global banking system,' according to a criminal complaint.
Creation of bitcoin hurts health and climate in the US, study finds
We may all be paying indirectly for private bitcoin mining operations.
Facebook suffers from a 'trust deficit': Ripple CEO
Trust is crucial in financial services, but it is something Facebook Mark Zuckerberg lacks, Ripple CEO Brad Garlinghouse says.
Facebook's Zuckerberg says working in China compromises American companies
The social network's founder estimated that six out of the top 10 companies coming out of China don't share "American values."
These luxury hotels now take bitcoin
The Dolder Grand Hotel in Zurich now accepts Bitcoin, and other travel outlets that are starting to accept cryptocurrency.
Facebook's cryptocurrency signs 21 members but another company drops out
The association appointed five board members at a meeting in Geneva on Monday, as it lays the groundwork for forward progress.
Cryptocurrency: What to know about digital money
Bitcoin, the first cryptocurrency, launched just over a decade ago.
Bitcoin, HTC collaborate on cryptocurrency smartphone
Bitcoin.com and HTC are partnering to develop crypto technologies, the companies announced Monday.
Facebook cryptocurrency threatens national sovereignty, official says
Facebook's Libra cryptocurrency is not getting a lot of love from world financial leaders.
Facebook's cryptocurrency Libra needs ‘highest regulatory standards,' Fed Chair Powell says
Fed Chair Jerome Powell says Facebook's new cryptocurrency project has a "burden of proof to carry."
Facebook Libra backers consider dropping out of project amid regulatory scrutiny: Report
U.S. lawmakers have warned that without proper regulation, Libra could threaten global financial stability and be susceptible to bad actors.
Overstock CEO Patrick Byrne resigns amid Russian spy link, 'deep state' comments
The Overstock CEO is no stranger to controversy.
‘Independent’ blockchain coin rater was paid for reviews, SEC says
Buying cryptocurrency can be confusing for investors who are inexperienced in the highly technical field.
How blockchains could give central banks a run for their money
Overstock's tZERO security tokens can now be traded by unaccredited investors.
Facebook says Libra could assist authorities: What it means for your privacy
Facebook’s digital currency chief says the company’s proposed cryptocurrency network can help law enforcement track down thieves, money launderers and other devious characters with the mega amounts of user and transaction info the digital wallet platform will store.
Ripple CEO: Facebook’s Libra does not represent all crypto
Brad Garlinghouse, CEO of Ripple, says not all crypto should be painted with one "broad brush."
St Louis Fed's Bullard: Cryptocurrencies could lead to price instability, illegal transactions
Bullard identified illegal drug trades or the avoidance of existing financial regulations as some examples of potential illegal activity.
G7 leaders have ‘very significant concerns’ over Facebook’s Libra: Mnuchin
Mnuchin's comments come after two days of bruising hearings on Capitol Hill.
Cryptocurrency FAQs
What is Cryptocurrency?
Cryptocurrency, or crypto, is a form of digital asset that is secured by cryptography and the blockchain. The most notable example of a cryptocurrency is bitcoin, though thousands of other similar assets exist. Cryptocurrencies are regarded by many as the money tech of the future due to their accessibility and un-censorable nature.
How do cryptocurrencies work?
Cryptocurrency networks, or blockchains, are independently verified by a matrix of computers that record all transactions and ensure a consensus throughout the chain. This means that all network information is recorded immutably and permanently; transactions cannot be prevented, blocked, or changed. Network participants can thus trust each other and transact without the need for a centralized intermediary.
How can I buy a cryptocurrency?
There are many markets for cryptocurrencies where you can exchange USD for the cryptocurrency of your choice. These include centralized exchanges and services such as Coinbase and PayPal, or decentralized alternatives like UniSwap where you can swap between crypto-assets. To use a centralized exchange, you’ll need to submit personal information such as your passport or driver’s license. Note that the price of digital assets can change rapidly, so timing your purchases well is essential.
Where can I keep my crypto coins?
Cryptocurrencies can usually be held with the exchange or business you bought them from. However, as these exchanges can be hacked, it is advisable to move your assets to your own personal wallet. These wallets are more secure and can be accessed from your laptop, phone, or other mobile devices.
What can I buy with crypto?
Real work adoption of crypto is still ongoing. However, more businesses are accepting crypto and you can buy goods and services as diverse as real estate, stocks, travel, gambling, websites, and much more. This trend should continue over time as cryptocurrencies become better known, accepted and trusted.
Pros and cons of investing in a cryptocurrency
You may have read the news that crypto has broken all-time highs recently. This is the main advantage, that we are early in the asset’s history and prices have generally gone rapidly upwards. However, you should be aware that volatility is significant and you can similarly lose money quickly if your timing is poor. Security is also a major issue and you must ensure you secure your crypto and transactions well or you could become a victim of theft or fraud.