Over the past decade, cryptocurrency has been all the rage. It all started with Bitcoin, which was created back in 2008. However, since then, the number of cryptocurrencies has grown significantly, as have the ways that investors can purchase these assets.
Cryptocurrency was initially met with skeptical eyes across the finance community; however, in more recent years, many notable investors have gotten onboard with the crypto craze. Investors considering adding cryptocurrency to their portfolios should familiarize themselves with cryptocurrency, its risks, and what can be done in the event of crypto fraud or crypto hacking.
What Are Cryptocurrencies?
Cryptocurrency is a digital currency that is backed by a complex algorithm making it nearly impossible to counterfeit. However, cryptocurrency is not tied to any financial resource, which is why so many were skeptical of the asset class initially.