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Currencies are common mediums of exchange and store of value with the most common being the gold standard that has been in use for more than 3000 years and fiat money that is mostly used in the world today. However, with the growth and spread of technology, a new form of currency has emerged in the form of cryptocurrencies. Cryptocurrency is a decentralized form digital currency that uses encryption techniques to verify transactions and generate units of the currency with any reliance of an intermediary between the two parties exchanging money (Watson 2). The standout factor that makes cryptocurrencies to gain popularity is their ability to keep transaction details anonymous. Some of the most common cryptos are Bitcoin, Ripple and VeChain

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