Education: Bitcoin and Cryptocurrency
What is Cryptocurrency?
One of the main challenges people face in a new market like this is understanding the underlying asset. Fortunately, Bitcoin and cryptocurrency are reasonably simple concepts.
The majority of countries on the planet have their own national currency. The internet is no different. It also has its own currency and that currency is Bitcoin. Bitcoin can be used to buy and sell goods online and has the added advantages of being low in transaction cost and operated by a decentralised authority (the people) rather than any central bank. Bitcoin is safe and secure with the transfer of funds occurring instantaneously.
Just like there are numerous currencies across the globe, there are also numerous cryptocurrencies across the internet, over 700 to be precise. Each of these other currencies also has value based on a number of measures that you can read more about under our “what gives a cryptocurrency value” section.
Throughout the evolution of money from the barter system(3000 BC) through coins(600 BC) and then paper money(1200 AD) right up to todays mobile payments and virtual currency we have seen significant gains in scale and utility. With each evolution: achieving ubiquitous adoption takes time and we are only now seeing cryptocurrency adoption really take off. In our opinion this presents an exceptional investment opportunity.
Here at Cloudbreak we live and breathe cryptocurrency. We understand the drivers of value better than anyone and utilise this expertise to identify the strongest investment opportunities for inclusion in our portfolios. These opportunities are closely tracked and re-assessed by our team of analysts on an ongoing basis with monthly adjustments being made in order to provide optimal returns.