The Bank of Uganda is open to the idea of cryptocurrency businesses participating in its Regulatory Sandbox, inviting members of the Blockchain Association of...
Cryptocurrency News and Bitcoin News
There’s a lot of buzz around cryptocurrency and Bitcoin news lately. Prices are skyrocketing, and new investors are entering the market every day. But what’s really going on with cryptocurrency and Bitcoin? And is it a good investment?
Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Cryptocurrencies are typically traded on decentralized exchanges, and can also be used to purchase goods and services. Bitcoin, for example, can be used to purchase items on Overstock.com and other online retailers.
Cryptocurrencies are often criticized for their volatility. The value of Bitcoin, for example, has swung dramatically over the past few years. In December 2017, Bitcoin reached an all-time high of $19,783.21. However, by February 2018, its value had plummeted to $6,176.26.
Despite their volatility, cryptocurrencies continue to garner interest from investors. In fact, the total market value of all cryptocurrencies reached an all-time high of $830 billion in January 2018. As of May 2018, the total market value of all cryptocurrencies was $272 billion.
So is cryptocurrency a good investment?
That depends on your goals and risk tolerance. Cryptocurrencies are highly volatile and are not appropriate for everyone. If you’re looking to make a short-term investment, cryptocurrency is not the asset for you. However, if you’re willing to take on more risk and you’re interested in long-term gains, cryptocurrency could be a good investment.