I have heard people talking about Cryptocurrencies but what are they?
Cryptocurrencies are tradeable electronic tokens that are discovered or created through the process known as mining, which we can think of as the search for a specific and complex mathematical key or code. They are in effect a new form of money. Such cryptocurrencies and the transactions they facilitate are recorded within an unhackable, distributed ledger know as a blockchain.
Cryptocurrencies are a new and exciting asset class that are largely unrelated to traditional investments. As such their prices move independently of the world’s major financial markets.
OK but why would I want to trade Cryptocurrencies ?