Canterbury, England -- (SBWIRE) -- 06/27/2014 -- Cryptocurrency is a global digital currency that is not backed by any banks or financial institutions. Supposedly, this type of system gives the end user complete control over the value of that currency. Cryptocurrency came into existence back in late 2010, in the form of Bitcoins, and by 2014 each unit of this digital currency was worth over $1,000. Since then there have been thousands of these types of digital coins that have been created. From Litecoin to Dogecoin, it can be a bit difficult to understand the difference. These "coins" were simply created and distributed, the only reason they have any value is because people assume that they are worth something.
The reason for the sudden public interest in this new form of currency is due to the fact that it is inflation controlled and free of any government constraints. For instance, just under 13 million Bitcoins will ever exist. Once that number has been reached, there will never be another creation of that particular currency. This will help to control inflation. Another reason why many people like cryptocurrency is that it is not taxed. Since, as of now, cryptocurrency is not acknowledged as a legitimate form of currency by most governments, it is not taxed.
Whether any individual believes that cryptocurrency holds value or not is irrelevant. The fact is that millions of people are buying, selling and trading these digital coins each and every day. Because of the fact that they are not controlled by a bank, company or government, it can be very difficult to value this currency or judge how much their value should be. This is where the Cryptocurrency Rating Agency comes into play. They are not only attempting to build more awareness of cryptocurrency world wide but they are going to also rate the various types of currencies that are currently available. This will help the market in two very important ways. It will help investors understand the value that certain types of crypto coins have. It will also add value to all well known currencies by introducing them to more potential consumers.
According to a spokesman for the company their goals are as follows, " We strive to help Cryptocurrencies to develop a solid foundation and business strategy so they can be successful based on our ratings. Cryptocurrencies are the future of technology and money. ".
About the Cryptocurrency Rating Agency
Cryptocurrency Ratings Agency is a company that is looking to make trading and investing in cryptocurrency a safer venture buy rating the various currencies so that the consumer can make more educated choices. They are also attempting to raise awareness of all of the benefits that can be gained from the use of this new type of digital money. For more information about the company or to learn about what they can do for you, visit their website here.