Digital Cash: What You Need to Know

Ever heard of crypto coins? These digital currencies are shaking things up in a big way! There are over 700 of them traded on Coindesk, and in November 2016, their total value soared to over $14 billion. But why are they such a big deal? Let's take a closer look! Without a central bank to manage them, crypto coins use unique systems to stay secure and stable. They create new coins and handle transactions quickly through a process called "mining. " However, this lack of central authority also makes them vulnerable to attacks.But don't worry, these digital currencies have some tricks up their sleeve to stay safe. Their systems are designed to detect and prevent trouble before it causes real harm. It's like having a digital watchdog protecting your money! Not all crypto coins are created equal. Some are more popular than others. Let's compare the top five and find out what makes each one special.