Cryptocurrency, often referred to as just crypto, is a form of digital currency that exists entirely online. These assets can be invested in, and in some cases exchanged for goods and services. Think about it like digital gold without any ties to a bank or the government.
Cryptocurrencies work using ‘blockchain technology’ - a digital ledger that stores and verifies transactions, accounts, and balances. This new technology is appealing thanks to its heightened security.
You may often hear that crypto is ‘decentralized currency’ - what does that mean? It means that transactions are cheaper, faster, and all the people around the world without a bank can participate.
With Current, all you need is $1 to start buying Cryptocurrency! You can start small and buy crypto with the money in your Current Account, then sell it whenever you need the cash. Current supports the purchase of some of the most popular coins like Bitcoin, Ethereum, Dogecoin, and more.
Frequently Asked Questions
What’s the difference between crypto and stocks?
- While they're both financial assets, they are different. Stocks represent partial ownership of a company, whereas crypto is a form of currency.
What are the benefits of crypto?
- Trading crypto has the potential for high rewards, but remember prices change regularly so there is always a risk. In addition, crypto isn’t tied to a central entity like a bank or government, which can lead to a fairer financial system.
What is blockchain technology?
- A blockchain is basically a database that stores a coin’s balance sheet, keeping records of transactions and the coin’s value. Each cryptocurrency is either built on its own blockchain or on an existing blockchain that verifies every transaction to ensure the overall safety and security of the database.
How do I know when to buy crypto?
- No one can know for sure. The cryptocurrency market is extremely volatile, meaning that prices are frequently changing and unpredictable, so go at your own pace. Start out with what you’re comfortable with and take it from there. Some invest small amounts regularly over time to spread out costs.
This is not intended to constitute investment or other advice. All forms of investments carry risks, including the loss of principal.
Cryptocurrency services are not available in Hawaii.
Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. This is not intended to constitute investment or other advice. All forms of investments carry risks, including the possible loss of principal. Terms and conditions apply. All forms of investments carry risks. Cryptocurrency is not subject to FDIC or SIPC coverage. This does not constitute investment advice.