The simple side of cryptocurrency
The world of crypto
Welcome to the world of cryptocurrency. I created this website to help grasp the concept of "non real currency" and show you that even though many people don't like it and see it as an unsafe investment, it isn't difficult to understand at all. I hope this website helps you immensely and you have a good experience.
Thank you and enjoy!
Cryptocurrency, what is it and how does it work?
What is it?
Cryptocurrency is a digital asset that uses digital files that stores information as value for money, allowing people to trade, buy or sell them securely. This might sound complicated but once I'm done explaining it will make perfect sense.
How does it work?
Cryptocurrency uses a decentralised ledger system compared to that of a bank that uses a centralised ledger system. In a ledger system it holds the information of “who owns what” and “how much do they own.” With a centralised ledger system there is only one place you can access this important information making it easy to erase or destroy, whereas with cryptocurrency that uses a decentralised ledger system it allows the information to be distributed to many different places on many different computers, making it virtually impossible for you to ever erase all the information.
How do cryptocurrencies increase or decrease in value?
Cryptocurrency works just as any other currency would. It is only as valuable as people perceive it to be, meaning the value of it is determined on how many people invest in it and how much they invest in it. If the demand exceeds the supply for a certain cryptocurrency the value of it will increase. The more value and usefulness people see in it, the higher the demand will be as more people will want to own it. In saying this, as the demand decreases so will the investments ultimately decrease the value of it.
Why is cryptocurrency the future of banking and money?
Every bank in the world right now uses the common centralised ledger system which allows them to see who owns what, and how much money the own. Cryptocurrencies use a decentralised ledger system which means that all the information of a normal centralised ledger system is in many different places all at once, making it impossible to erase the information and more redundant than the centralised ledger system. It's the future of banking and keeping records, as the cost of computing is decreasing making it a more valuable ledger system. It is also much easier to send money as there are no more financial borders ultimately making banks become obsolete and hold no more value anymore.
About me
My name is Matthew Rogers and I am a grade 10 student at Stockholm International School. I have always had a passion and interest about money and particularly cryptocurrency but I have never got to doing the necessary research. This year I got challenged with the Personal Project, and I automatically knew what I wanted to create. This website is my final product, I hope you enjoy and it id of great help.
Different cryptocurrencies available
Currently there are over 12 000 cryptocurrencies available, but there are a few that stand out in terms of value and growth rates. These are Ethereum (ETH), Bitcoin (BTC) and Tether (USDT).
Bitcoin (BTC)
Current worth - 236 524,34 Swedish krona
Expected growth rate - Prediction for 2025: 1 029 924,00 Swedish Krona ($100 000)
Overall growth rate - 9385.50%
Ethereum (ETH)
Current worth - 16 284,72 Swedish Krona
Expected growth rate - Prediction for 2025: 57 771,68 Swedish Krona ($5 609.68)
Overall growth rate - 385.38%
Tether (USDT)
Current worth - 10,30 Swedish Krona
Expected growth rate - 133,26 Swedish Krona ($12.94)
Overall growth rate - 17.89%
