![]() When people mine cryptocurrency, they first validate a part of the blockchain, ensuring the full ledger of different transactions. Instead, cryptocurrency mining is the process of generating new cryptocurrency “tokens.”Ĭryptocurrency mining is a fairly complicated process and a detailed explanation is outside the scope of this article. Unlike most traditional currencies, where a government or other financial institution controls the currency and has the ability to mint or print new currency, there is no central organization for most cryptocurrencies. What are popular cryptocurrencies?īesides Bitcoin, which is one of the earliest and most popular cryptocurrencies, here are some of the other popular cryptocurrencies: There are many other cryptocurrencies that are out there. Bitcoin is one of the oldest and most popular cryptocurrencies, but it is still just one of many different types of cryptocurrencies. Many times you might hear the words cryptocurrency and Bitcoin referred to interchangeably, but these are actually different things. While there are many legal reasons to have or invest in bitcoin or other cryptocurrencies, people also use it for either illegal or other questionable activities. This makes cryptocurrency popular with people who prefer not to have traditional bank accounts or who distrust government or banking. This means that there is not one central bank or government entity that controls the cryptocurrency. The blockchain is distributed and duplicated throughout the entire network. With regard to cryptocurrency, blockchain is a detailed ledger of all of the different transactions of the cryptocurrency in question. Many cryptocurrencies are backed by something called a blockchain. ![]() What is Cryptocurrency?Īt its most basic, a cryptocurrency is a form of digital currency that is backed by some form of cryptography. There are both risks and benefits to investing in cryptocurrency and this article will explore both sides to help you make a sound decision on whether investing in cryptocurrency is right for you. Still, there is a lot of misinformation of what cryptocurrency is and whether it makes sense to include in your retirement and financial planning. More and more people are investing in cryptocurrency or considering it. Now you have a view of your crypto investments in the Mint app! New to Crypto?Ĭryptocurrency and Bitcoin have become increasingly popular over the past several years. Step 4: Choose the vendor and enter your credentials to connect your account. Step 3: Search “crypto” or the vendor name for your investment account Step 2: Tap the plus sign (+) to connect an investment account ![]() Step 1: Log in to your Mint app and click Investments If investing in crypto is part of your financial strategy you can connect your account in Mint to see your full financial portfolio.
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