While you can trade, buy, and sell gold-backed or silver-backed crypto on exchanges like GoldExchange, can you buy the actual metals? Before we dive further into the investment aspect of cryptocurrencies, let's take a quick look at what actually is cryptocurrency.
Crypto is most commonly known as "digital currency" which means it's virtual cash and is exchangeable. Cryptocurrency uses encryption techniques to secure networks. One thing considered by many to be the most beneficial aspect of cryptocurrency is that it's decentralized and not owned by any government or authority, any one can own it without any terms or conditions.
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