Neil Forrester

Customer Support
You should only work with a broker that has an active and professional customer support team. The customer support will help you in case you have any inquiries, especially if you encounter any technical problems.

A cryptocurrency is a type of digital asset that functions as a medium of exchange. It is a substitute for money and operates as a virtual currency.

What is Cryptocurrency?
A cryptocurrency is a type of digital asset that functions as a medium of exchange. It is a substitute for money and operates as a virtual currency. As such, it has no physical existence. Instead, it is held and stored electronically (online). Cryptocurrencies are secured by cryptography. Cryptography refers to the process of converting legible information into codes. It was predominantly used during the Second World War. Hence, you can rest for sure that it has a high level of security.

It is worth noting that although a cryptocurrency functions as a medium of exchange, it is not considered fiat money.

Fiat money refers to the official currency of a state, which is regulated by its government. Therefore, cryptocurrencies are not considered as legal tender.

As such, they cannot be used by a debtor to compel his creditor to accept payment. Of course, the exception to this rule is if payment by cryptocurrency is also stipulated in the contract. The good news is that many merchants and individuals around the world now accept cryptocurrencies as a medium of payment.

Bitcoin and all other cryptocurrencies are just a bubble

More and more individuals and businesses around the globe are also becoming more open to the idea of using and accepting cryptocurrencies as a medium of payment.

the fact that illegal transactions using cryptocurrencies got caught by the authorities, it only goes to show that the cryptocurrency market is not the platform for committing illegal acts.

What is a Ponzi scheme? As described by Investopedia, a Ponzi scheme is “a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. For both Ponzi schemes and pyramid schemes, eventually there isn’t enough money to go around, and the schemes unravel.” In a Ponzi scheme, the people behind the scheme make money at the expense of the investors.