Facebook released details of its Libra cryptocurrency via the Libra White Paper. Libra is stable coin with near zero fees meant to allow for quick, cheap, and stable global transactions.
Cryptocurrency uses cryptography to create coins and secure transactions. Typically cryptocurrencies are open source with pubic, but encrypted, ledgers of all transactions based on blockchain technology.
There are a number of cryptocurrencies traded on cryptocurrency exchanges, and the growing popularity of cryptocurrency means that despite volatile prices, market caps and values are growing every year.
Popular cryptocurrencies include the original Bitcoin, Ethereum’s Ether, and Litecoin.
Cryptocurrency is legal and taxable in the US, but it isn’t legal tender (you can’t pay your taxes in Bitcoin, it is considered investment property). With that said, due to its infancy and history so far, cryptocurrencies should be invested in and used with their historical volatility in mind.
Click on any of the pages below to learn more about cryptocurrency.
TIP: If you are new to cryptocurrency, check out our guide to cryptocurrency for beginners.
The US Copyright office granted Craig Steven Wright copyright registrations for the Bitcoin paper and Bitcoin code. This is true even though there is a debate over whether or not Craig is Satoshi.
You can send crypto between Coinbase accounts without paying transaction fees by sending to an email address rather than a crypto address.
When sending cryptocurrency you can choose how much you want to pay in fees in many wallets. If you send the high end of the daily average, your transaction will be processed quickly.
In cryptocurrency, IEO stands for Initial Exchange Offering. These are Initial Coin Offerings hosted on exchanges like Bittrex and Binance.
When a user creates a Bitcoin transaction, they have to include a transaction fee to be paid to miners to incentivize miners to add their transaction to the blockchain.
Digital asset is a term that describes any asset in an electronic form. Crypto assets are digital assets that utilize the technology behind cryptocurrencies.
In cryptocurrency sometimes terms get used loosely or one term gets used in place of another. Let’s discuss some crypto semantics.
In cryptocurrency, the term Security Token can either be referring to 1. a cryptocurrency token registered as a security, 2. a digital representation of a traditional security like a stock (a tokenized security), or 3. a cryptographic code used in computer security.
When a coin does a hard fork, two identical blockchains exist until changes to one of the chains is made. To avoid transaction replays (transactions made on one chain being broadcast on the other), at least one chain must implement replay protection (developers of one chain must change the format of transactions to make them unique).