What is Crypto Trading?

Cryptocurrencies were created to be used as virtual forms of money which can be utilized for financial transactions for goods and services. On the other hand, cryptocurrencies are unlike government-issued fiat currencies in that they are decentralized. Fiat currencies, such as the euro and the US dollar, are controlled by governments and central banks, while cryptocurrencies are managed by a community of those invested in the particular cryptocurrency.

Also, a cryptocurrency is different from fiat in that it uses a virtual ledger that is publicly viewable, while central banks maintain the ledgers for fiat currencies. The ledger for cryptocurrencies is referred to as blockchain which records every single transaction using particular cryptocurrency coins. New cryptocurrency coins are created by solving complex mathematical problems. Large amounts of computing power are required to accomplish this. The individuals that solve these equations are known as “miners.”

Bitcoin became the world’s first cryptocurrency when it was officially released in 2009. However, Bitcoin went mostly unnoticed by the financial industry at first. But there were a small number of investors who immediately saw the potential of Bitcoin and blockchain technology and bought Bitcoin early. This paid off handsomely when Bitcoin began to appreciate rapidly to unprecedented record highs. Now, there are thousands of cryptocurrencies that have followed in Bitcoin’s footsteps.

With Iron500, you will be able to trade all of the popular cryptocurrencies on an intuitive and responsive trading platform and with access to a wealth of effective trading tools and resources.