With advancements in technology, it is not surprising that our currencies too are going digital. Digital currencies, or digital money, go one step further from their physical counterparts by allowing for instantaneous transactions and borderless transfer-of-ownership. Digital currencies are most often confused with virtual currencies and cryptocurrencies — which are actually its sub-categories.

Virtual currencies are not intended for use in “real life” or to be used on real assets, hence they are subject to centralized authority and can be seen mostly in the online gaming industry. On the other hand, cryptocurrencies are a medium of exchange that uses cryptography to secure transactions that occur, and to control the creation of new units.

The benefits of cryptocurrency in today’s digital age appears to be breaking down geographical barriers and saving us as consumers a considerable portion of the transaction fees. However, it doesn’t come without risks, so we should always do our own research, and become familiarized with key concepts before investing.

As someone with a lot more to learn and explore in the blockchain and crypto space, one way for me to tap on the knowledge of more experienced individuals is through Spiking. Spiking.io is an upcoming ITO that allows amateurs like myself to hook on to the movements of reputable traders and learn some tricks of the trade from them along the way!