Cryptocurrencies traded in public markets are secured by cryptography. Thus, a system with cryptocurrencies eliminates the possibility of a single point of failure-such as impossible to counterfeit or double-spend.
Systems of anonymity that most cryptocurrencies offer can also serve as a simpler means to launder money. In September , the Chinese government declared all cryptocurrency transactions of any kind illegal, completing its crackdown on cryptocurrency. As of the date this article was written, the author does not own cryptocurrency.
