What Are Crypto-Assets?

Crypto-currencies are a type of digital asset. They exist electronically and are totally peer-to-peer, meaning there is no central organisation required to manage the systems and it gives people more control of their funds.

You can send value anywhere in the world faster and cheaper than the traditional system allows and nobody can censor your transactions. Most of them are pseudonymous so your privacy is enhanced, whilst at the same time all transactions are publically viewable with explorers.

Bitcoin – The First Crypto

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Bitcoin was the original cryptocurrency created in 2009 by a mystery entity named Satoshi Nakamoto and it has been operational for 10 years, with no central authority controlling the network.

The network is maintained by “Miners”, computers that solve complex math problems to process transactions and create new bitcoins. This method is called Proof of Work (PoW). Only 21 million bitcoins will ever exist and as demand increases many believe the price will rise.

In terms of dollar gains, Bitcoin has been the best performing asset of the last decade, as well as one of the most volatile:

Bitcoin Value History

Date1 Bitcoin
Jan 2009$0
Mar 2010$0.003
May 2010$0.01
July 2010$0.08
Oct 2010$0.125
Apr 2011$1
June 2011$35
April 2013$266
Nov 2013$1,242
May 2017$2,000
June 2017$3,200
Aug 2017$4,400
Sep 2017$5,000
Oct 2017$6,180
Nov 2017$8,100
17 Dec 2017$19,783
Feb 2018$6,200
Dec 2018$3,800
Jun 2019$10,000


Since bitcoin’s creation people have built new cryptocurrencies aimed at different use cases. Dubbed “Altcoins” or bitcoin alternatives, they have new infrastructures, protocols and supply as well as a myriad of other features.

Notable ones include XRP (Ripple), Ethereum and Litecoin but there are many more.

XRP – Ripple

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XRP was created in 2013 and the company Ripple took over stewardship of the project with a bold vision. To completely rebuild the infrastructure for global payments, making it cheaper and faster and achieving an Internet of Value. Where money moves anywhere in the world as quickly as information moves today.

XRP is 1000 times faster and cheaper to transact than bitcoin and can scale to process as many transactions as VISA, all while being decentralised.

The project has grown to the point that Ripple now has over 200 banks and financial institutions on their network. Around 15 are publicly using XRP in their payment flows to improve speed of settlements and make savings. The most notable is MoneyGram but many more institutions are expected to go live with the tech.

Aside from Ripple’s goal as a company, they are pushing for greater adoption of digital assets in general. Ripple created the Interledger Protocol and gave the technology to the W3C foundation. As a result, new companies are being created to change how internet content is monetised, like Coil and Cinnamon.

ETH – Ethereum

Ethereum is a platform for decentralized applications. On Ethereum, you can write code that controls digital value, while keeping many of the features that bitcoin has.

Negatives of Crypto

Although crypto assets give users more control, there are also risks involved. Many exchanges have been hacked in the past meaning people have sustained huge losses but if you maintain good security practices, you can reap the potential benefits safely.

In terms of price, altcoins have shown even more volatility than bitcoin but some have had huge increases too.

The Future of Cryptocurrencies and Digital Assets

Digital assets have been around for 10 years and it looks like they are here to stay. New use cases will be created and the world will look very different by 2030. Here at CredEarnExpert.com we’re confident that we are invested in the best asset class for the future but of course nothing is certain.

In the meantime we strive to make our money work harder, earning interest on our crypto.

CredEarn Expert.