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Digital currency is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic computer database owned by a company or bank, within digital files or even on a stored-value card.
A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees.
Bitcoin (₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work and the company lacks a physical headquarters. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam.
The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment varies, with differing regulatory implications.
Blockchain.com is a cryptocurrency financial services company. The company began as the first Bitcoin blockchain explorer in 2011 and later created a cryptocurrency wallet that accounted for 28% of bitcoin transactions between 2012 and 2020. It also operates a cryptocurrency exchange and provides institutional markets lending business and data, charts, and analytics.
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization.
Kraken is a United States–based cryptocurrency exchange and bank, founded in 2011. It was valued at roughly $10 billion in mid-summer 2022. The exchange provides trading between cryptocurrency and fiat currencies, and provides price information to Bloomberg Terminal.
Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut.
An initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, although a private ICO which does not seek public investment is also possible. In an ICO, a quantity of cryptocurrency is sold in the form of "tokens" ("coins") to speculators or investors, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ether. The tokens are promoted as future functional units of currency if or when the ICO's funding goal is met and the project successfully launches.
Tether is an asset-backed cryptocurrency stablecoin. As of July 2022, Tether tokens are issued on ten protocols and blockchains. The tokens are issued by the Hong Kong company Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether is called a stablecoin because it was originally designed to always be worth US$1.00, maintaining $1.00 in reserves for each tether issued.
The history of cryptocurrency has been marked by speculative bubbles in 2011, 2013, 2017, and 2021.
Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands.
Cryptocurrency and crime describes notable examples of cybercrime related to theft of cryptocurrencies and some of the methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that has been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrencies.
OKX, formerly known as OKEx, is one of the largest crypto spot and derivatives trading exchanges. OKX is a Seychelles-based cryptocurrency exchange that provides a platform for trading various instruments such as spot and derivative. Some of the exchange's core features include spot and derivative trading. It was founded by Star Xu (徐明星) in 2017. OKX is owned by Ok Group which also owns crypto exchange Okcoin. It is not available to US based investors. The company's CEO is Jay Hao and CMO is Haider Rafique.
Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities.
Paxos Trust Company is a New York-based financial institution and technology company specializing in blockchain. The company's product offerings include a cryptocurrency brokerage service, asset tokenization services, and settlement services. ItBit, a bitcoin exchange run by Paxos, was the first bitcoin exchange to be licensed by the New York State Department of Financial Services, granting the company the ability to be the custodian and exchange for customers in the United States.
The general notion of cryptocurrencies in Europe denotes the processes of legislative regulation, distribution, circulation and storage of cryptocurrencies in Europe.
References
- 1 2 Anna Irrera (April 11, 2017), CME Group, Royal Mint test blockchain-based gold trading platform, Reuters
- ↑ "Blockchain could add lustre to gold market", Straits Times , Singapore, August 18, 2017
- ↑ Teresa Rivas (November 3, 2017), "Bitcoin $11,000? Expect Blockchain-Based Gold Trading Soon", Barron's
- ↑ New currency in race to remake one of world's oldest markets, Bloomberg, August 17, 2017 – via The Economic Times
- 1 2 3 James Connington (4 December 2016), "Buy Royal Mint gold using Bitcoin tech - via your Isa firm", The Daily Telegraph , London
- ↑ "Wary of crypto, UK government blocks Royal Mint's digital gold". Reuters. 2018-10-26. Retrieved 2020-08-11.
- 1 2 FAQ, Royal Mint Gold official website, accessed January 31, 2018
- ↑ An Open Source Blockchain, CME, April 11, 2017
- ↑ Wary of crypto, UK government blocks Royal Mint's digital gold, Reuters, October 25, 2018
