A recent phenomenon in the financial world is the appearance of cryptocurrencies. Cryptocurrencies are defined as "a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets" (Wikipedia). Identify and research a form of cryptocurrency. Then, evaluate it against the six characteristics of money, and decide if it qualifies as a form of money. Your answer should be written in complete, grammatical sentences.

Respuesta :

A form of Crypto-currency that has been researched is the most common one that is called Bitcoin.

What are the characteristics of Bitcoin that makes it similar to money?

  • - It is a measure of value.
  • - It is used as a medium of exchange.
  • - It is limited in supply.
  • - It is divisible into units
  • - It is generally accepted for exchange.

These characteristics of this cryptocurrency is what makes it similar to money.

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