Cryptocurrency is a digital or virtual currency secured by cryptography. It is a digital asset that is nearly impossible to counterfeit.
International monetary fund in a blog post titled ” Crypto asset as national currency? A step too far” said that it did not see Crypto currencis catching on as national currencies, and highlighted numerous risks and costs involved if it happened.
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Cryptocurrency like Bitcoin was the first to be launched in 2009 and is the most popular and valuable Cryptocurrency. Followed by Litecoin, peercoin, Namecoin and Etherum.
The aggregate value of all the crypto currencies is around $1.5 trillion havin Bitcoin representing more than 60% of the total Value.
However, crypto currency has been seen as a disadvantage in terms of money laundering and tax evasion.
