What is cryptocurrency
Cryptocurrency such as Bitcoin, is a decentralized digital currency that uses encryption to verify transactions. Cryptocurrencies act as an alternative to traditional currencies such as, US Dollar (USD) or Pound Sterling (GBP) which are backed by a centralized government. Notably, although Bitcoin is the most commonly known cryptocurrency, there are over 1,200 others in existence.
Since the beginning of 2017, the aggregate market value of all cryptocurrencies combined has risen by around 1,800% to $336 billion. The two largest cryptocurrencies, Bitcoin and Ethereum, have grown to the rounded percentage of 1,000% and 5,500%, respectively.
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