The rise of cryptocurrency has taken the world by storm. A large majority of people don’t even know what the blockchain is. By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, the tech community is now finding other potential uses for the technology.
Decentralized currency has become a staple in today’s digital world. Whereas most people are kicking themselves for not purchasing Bitcoin years ago which would’ve made them millionaires today, a new era in digital currency has appeared. ICOs, or initial coin offerings and other cryptocurrencies such as Ethereum. An ICO is a tool for fundraising that allows you to trade future cryptocoins in exchange for cryptocurrencies of immediate, liquid value. You give out Bitcoin or Ethereum during the ICO, and you get some of Dave’s Cool New Tech Startup Coin.
Just a few months ago Ethereum was roughly $8 per coin and as of this writing it is getting closer to $350 per coin. That is a humongous advance in value in just a couple of months. The difference between Bitcoin and Ethereum is that Bitcoin is more of a currency, and Ethereum is more of a platform where companies and organizations can raise funding, enable smart contracts and write programs.
If you feel as though you were left out of the mix and it is too late for you, think again. You can easily purchase Ethereum coins and just sit on them for a couple of years to see a rise in value. Digital currency and ICO’s are not going anywhere. It’s only going to grow and become more valuable than Fiat money in the coming years. The question is whether or not you want to be a part of the currency revolution…