Question

1. What are cryptocurrencies?2. Beyond a method for payment, what are other functions of cryptocurrencies? 3. How are cryptocurrency transactions recorded? 4. Are blockchain and cryptocurrencies the same? 6. What are the top cryptocurrencies? 7. Why are there so many cryptocurrencies? 8. Can cryptocurrencies fail? 9. I hear cryptocurrencies are used for illicit/illegal activities; is this true? 10. Is it legal for me to purchase cryptocurrency in the U.S.?11. Okay, okay, I have U.S. dollars — how do I purchase cryptocurrency? 12. What is a crypto wallet? 13. Are there ways to purchase outside an exchange? 14. If I want exposure, isn’t there just a security (like an exchange-traded fund) that I could purchase? 15. Why would I purchase a security? 16. Is it true you can trade 24/7?17. How volatile is it really? 18. As a U.S. citizen, how do taxes work?19. Can I be hacked? What if I am hacked? 20. Is institutional adoption increasing? 21. What are other considerations/will prices keep going up?

Answer 1

Explanation:

Cryptocurrency is a type of digital currency that generally only exists electronically. There is no physical Payment currencies. As the name suggests, these assets are mainly for payments and are hence called Payment Currencies. ...

Blockchain economies. ...

Privacy coins. ...

Utility tokens. ... coin or bill unless you use a service that allows you to cash in cryptocurrency for a physical token

Answer 2

Cryptocurrencies– A digital currency based on a cryptographic system.