Cryptos and the fiat currencies
Cryptos and the fiat currencies Cryptocurrencies (which weve commonly come to call Cryptos) are digital currencies which were pioneered by the launch of Bitcoin back in 2009. It was a time when the preceding year 2008 had seen a financial crisis and the world economy had taken a hit. Peoples trust in governments and banks was greatly diminished and that lack of confidence in the established financial systems drove the first cryptocurrency to find its foothold. It still remains a mystery however who the mastermind behind Bitcoin is, as only the pseudonym Satoshi Nakamoto is tied to its birth, unknown to be either an individual or a group. The development of the cryptocurrencies was directly tied to the sentiments by the general public that they wanted control over their their own finances and Cryptos offered just that. Without centralised control, people with cryptos are able to make transactions without having to rely on banks since most of them are peer-to-peer currencies. This user autonomy is what makes cryptos an appealing option since there is no need to go through intermediary authorities. On the other hand we have the more traditional currencies that can be tangible like the Euro or US dollar and these