The role and importance of cryptocurrencies

Abstract

The object of the article is the process of development of a new phenomenon for the economy of cryptocurrency, which in the last few years has turned from a hobby of enthusiasts into a large-scale sphere. The article considers the history of cryptocurrency, its pros and cons, legal status, assesses the prospects for its use, as well as explores the possibility of obtaining cryptocurrency, the mechanism of operations and its impact on economic development. The existing risks of BitCoin are also considered, but despite this, this currency has significant potential for currency speculation, which attracts many people to maintain liquidity.