How many cryptocurrencies are there in 2021?

New cryptocurrencies are being released every month and it can be hard to keep track of them all. In May 2021 there were 10,115 cryptocurrencies - either altcoins or tokens - according to CoinMarketCap, and this had risen to 12,282 by the start of October. On one day alone, August 13, 2021, 21 new coins were listed on CoinMarketCap.

What is a cryptocurrency and how does it work?

A cryptocurrency is a digital currency that functions via encryption algorithms, a technical method of securing data on a system called the blockchain, which we explain below. Cryptocurrencies commonly run without the backing of a central party, such as a government or central bank, but rather exist in a decentralized manner.

What is the vision behind cryptocurrency?

The vision behind cryptocurrency is one of a peer-to-peer electronic currency system that is not controlled by a central authority and therefore, is fast, cheap and invulnerable to censorship (for instance, PayPal blocking gun sales) and other forms of corruption or control.

Are cryptocurrencies a good investment?

However, it's important to note that to some, cryptocurrencies aren't investments at all. Bitcoin enthusiasts, for example, hail it as a much-improved monetary system over our current one and would prefer we spend and accept it as everyday payment. » Get started. How to invest in cryptocurrency How does cryptocurrency work?