Cryptocurrencies, an overview

Team Veye | 23-Jan-2022 Cryptocurrencies

Cryptocurrencies and decentralized technologies are booming. Market capitalizations have been soaring and with its global adoption from individuals, corporations, and governments, transaction volumes have skyrocketed.

The term “cryptocurrency” is an amalgamation of cryptography and currency. The cryptocurrency trading community includes people genuinely interested in various applications of blockchain technology and who take informed bets on it.

Cryptocurrency is unique for many reasons. It is a digital payment maintained by a network of computers that uses cryptography to authenticate transactions.

A good cryptocurrency will be decentralized. Decentralized exchanges function as peer to peer exchanges. They differ from centralized exchanges as they enable users to remain in control of their funds by operating their critical functions on the blockchain.

The network participants run software that connects them to other participants so that they can share information between themselves. The decentralization of cryptocurrency networks makes them highly resistant to shut down or censorship.

Cryptocurrencies are normally functional 24 hours a day, 365 days a year. They allow for the transfer of value anywhere around the globe without the intervention of intermediaries.

Bitcoin and other early cryptocurrencies were designed as currency, but later blockchains sought to do more. Bitcoin may be the most traded Crypto, but traders are getting interested in other popular cryptocurrencies as well, like Ethereum, Binance and Dogecoin. Ethereum beat Bitcoin when it rose more than 400% in 2021, breaching the $4000 price.

Blockchain technology represents a profound shift like that of email and web in the 90s and Facebook and Twitter a decade later. It has the potential to create countless opportunities everywhere.


Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website, and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.

veye logo

Grab Your Free Report On 5 ASX Dividend Stocks To Buy In 2024