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Fintech: Financial Technology Research Guide
Bitcoin is the largest and most popular cryptocurrency by market cap and was created by Satoshi Nakamoto in 2009. It is a decentralized digital currency that has transferrable ownership. This cryptocurrency is mineable and has a maximum supply of ₿21,000,000. This section of the FinTech guide briefly covers cryptocurrency (like “Bitcoin”) and blockchain technology (a protocol for a peer-to-peer electronic cash system). From Bitcoin and Ethereum to an ever-growing list of altcoins, cryptocurrencies have taken a new generation of investors around the world by storm.
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- It was launched in 2009 by Satoshi Nakamoto, a pseudonym for the mysterious person or group who created it, to secure payments across a peer-to-peer network.
- It is a decentralized digital currency that has transferrable ownership.
- This cryptocurrency is mineable and has a maximum supply of ₿21,000,000.
- Blockchain technology is also critical to NFTs (non-fungible tokens), which are often paid for with cryptocurrency.
Proof of stake has the advantage over proof of work of being much less energy-intensive. Indeed, Ethereum, the second largest cryptocurrency after Bitcoin, changed in 2022 from proof of work to proof of stake. New Bitcoins are created by users running the Bitcoin client on their computers. The client “mines” Bitcoins by running a program that solves a difficult mathematical problem in a file called a “block” received by all users on the Bitcoin network.
If you’ve decided crypto is right for your portfolio, choosing which cryptocurrency to buy can involve juggling a lot of details. To make the comparison process simpler, here’s a brief summary of the important attributes of some of the largest cryptocurrencies. For each, we’ll discuss key characteristics, as well as potential pro and con arguments. Proof-of-work coins, especially Bitcoins, have been criticized for their energy usage. The profitability of Bitcoin has driven the construction of many large operations with thousands of computers that are specially optimized integrated circuits for mining,.
Market Cap: $10 billion
Cryptocurrency experts have responded that the technology is still not mature or widespread enough to replace traditional money. The time it takes to mine a block is different for each cryptocurrency. Bitcoin takes about 10 minutes, while others do it almost instantly. The key factor is the way in which blocks are verified by the network. Bitcoin, for example, uses a ‘proof-of-work’ algorithm, which is very energy intensive.
IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. Further down we explain how these factors may influence the cryptocurrencies’ valuations, and why they matter to traders. Find out more about a range of markets and test yourself with IG Academy’s online courses. In light of this, if you’ve decided crypto is right for your portfolio, you should only buy crypto with an amount you can afford to lose. Copyright © 2026 FactSet Research Systems Inc.Copyright © 2026, American Bankers Association.
Cryptocurrencies are mostly used for speculating (trading) on price movements. While the intended use was originally for online payments, uptake has been slow https://calvenridge-trust.com/ and few retailers accept them. There are many reasons why this is the case, including strict regulations, accessibility of the coins, infrastructure, and stability – cryptocurrencies are very volatile. This could change in future, especially if ‘stablecoins’ prove to be successful.