What Makes Cryptocurrency “Cryptocurrency”?

The Essential Aspects That Crypto Must Have

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Cryptography

Cryptography is what puts the crypto in cryptocurrency. “Cryptography is a method of protecting information and communications through the use of codes,” according to WhatIs.com. In short, cryptography keeps virtual currency secure and irreplaceable.

Decentralization

Decentralization goes hand-in-hand with cryptography. Governments don’t control cryptocurrency, and they are not exempt from the codes used to protect it. While this isn’t necessarily what makes crypto “crypto,” it is something that is unavoidable when any virtual currency has cryptography. While cryptography is essential to keeping a cryptocurrency in circulation, decentralization is what makes said currency special.

Global Network

This ties closely into decentralization in the sense that cryptocurrency is meant to be accessible to anyone, anywhere, in a borderless fashion. This means that using the network that ties all devices together, cryptocurrency can be traded from person to person no matter where they are in the world. Not only this, but cryptocurrency can be acquired by anyone with the right resources, without having to trade … they could mine it instead.

Time is Money

Not all digital currencies have a limited amount available to be mined. For example, while Bitcoin has a cap of 21 million bitcoin (projected to be reached in the year 2140), Ethereum’s Ether coin has only a yearly limit … although its creator has proposed changing that. Regardless, this type of scarcity isn’t what makes crypto “crypto”.

What is Coin Cloud?

Coin Cloud is a digital currency machine company headquartered in Las Vegas, Nevada. With over 1,300 locations nationwide, Coin Clouds are the world’s largest and fastest-growing network of two-way digital currency kiosks, commonly known as Bitcoin ATMs or BTMs, and the majority of all two-way machines in the U.S. Since 2014, CoinCloud has helped hundreds of thousands of customers buy and sell cryptocurrency and other virtual currency quickly and easily. You can find your nearest Coin Cloud here.

The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.

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