What are cryptocurrencies like Bitcoin, Steem, Ethereum, and Litecoin? Digital currencies such as Bitcoin and Steem are like electronic money issued and managed by users. Servers setup by entrepreneurs and companies handle all the transactions while exchanges like Coinbase and Bitstamp allow changing fiat currency like

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USD to cryptocurrencies like Bitcoin which provides the real value. Bitcoin is currently accepted as payment for goods and services on thousands if not millions of websites worldwide with continuing adoption every day. Cryptocurrencies are also a popular choice for the black market because of relative anonymity and ease of use compared to using credit cards and bank accounts. Digital currencies are also very popular in countries like China where moving wealth out of the national economy and into the global market is difficult.