What Are Crypto Coins?
Categories: Crypto News US
What Are Crypto Coins?
Crypto coins are strings of computer code that can represent an asset, concept, or project — whether tangible, virtual, or digital — intended for various uses and with varying valuations. Originally, these coins were meant to function as a type of currency.
Cryptocurrencies are not like fiat currencies, e.g., the dollar, euro, or yen. Fiat money is tangible; it’s governed by central authorities, and it operates as a store of value: You can exchange any fiat for goods and services. But cryptocurrencies — including the various types of coins we discuss here — can serve many purposes beyond that of currency.
Cryptocurrency as “currency” is a usage that only grazes the surface of blockchains’ capabilities. Because they are built on blockchain tech, some cryptos can offer solutions to long-standing problems in almost every sector of our economy.