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Often referred to as crypto currency, digital currency is one that exists only in digital or electronic form and operates independent of a central bank. Bitcoin, the most popular crypto currency, was the first ever created. The idea has been floating around since the 1980's with David Chaum's ecash. The creator of Bitcoin, Satoshi Nakamoto, is an unknown person who enshrouds the currency in mystery. With the advent of Bitcoin, several other crypto-currencies have emerged: Ethereum, Tether, Solana, BNB, USDC, XRP, and the list goes on... Click Here.
El Salvador made Bitcoin legal tender in 2021. Bitcoins have a value of almost $70k each. However, without the existence of money, it may prove difficult for crypto currency to have an accurate valuation. Cryptocurrencies certainly have some advantages over traditional money, as people see them as inflation-proof. Bitcoin and other crypto currencies also offer some form of anonymity when making purchases. One downside to crypto currency is that it is used almost exclusively to make transactions on the dark web, which is known to be a hub for criminal activity. Among its other cons, crypto currency isn't accepted everywhere, and it is useless in the event of a power outage.