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01 March 2021

The History of Digital Currencies | Live Bitcoin News

The History of Digital Currencies | Live Bitcoin News

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Digital currencies have seen a significant rise in popularity in recent years, with Bitcoin, Ethereum, Litecoin and Qoin finding themselves growing in user population and price.

This is a history of digital currencies, and what they may mean for the culture of payments and Fintech in the years to come.

Bitcoin was intended to be a currency that could be used to buy and sell everyday goods, but with a twist that differentiated it from e-gold.

The constant variation of Bitcoin without an anchor to tether its value – has meant that many people are less willing to spend with it, given the fact that price fluctuations can occur so dramatically.

Since Bitcoin, many digital currencies have been launched pegged to a commodity for stability, with currencies like Tether, Paxos and Qoin aiming for increased stability.

The shifting reliance on transactions in the digital domain for digital currencies has meant that banks have been driving mobile banking, leading to remote and digital payments becoming part of our everyday life.

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