What You Need to Know About Cryptocurrencies

Cryptocurrencies made big news in December when the leading cryptocurrency, bitcoin, lost about a third of its value in a day. The tumble raised questions about cryptocurrencies in general — are they good investments? Can they really take the place of mainstream currencies? What does the future hold? Understanding cryptocurrencies is key to getting the most out of them. They are are a nontangible form of currency that exists exclusively in a digital database called a blockchain, says Fred Schebesta, CEO and co-founder of Finder.com, a financial comparison website. They let users transfer real-life assets such as cars, money and property instantly and without the involvement of third parties. They represent an opportunity for financial professionals, but like any investment they need to be carefully researched before you jump in. “Approach all tokens with a sense of discovery and skepticism,” says Joseph Bradley, director of investor relations at Apex Token …

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