The coin in general
In general, a Coin is metallic money, usually accepted as legal tender and – at the time of their inception – made of gold, silver and other precious metals. Later, as trading developed and extended widely, coins progressively gave way to paper money in the form of banknotes.
More recently, checks, bank drafts, bills of exchange, and cashless payments with debit and credit cards have rendered coins almost insignificant. Today, coins are also made of different alloys to denominate small currency units. They usually serve only as change, with little intrinsic value.
The modern coin with the highest increase in value
The introduction of the original cryptocurrency, the Bitcoin, initially met with bemusement as it was worth only a few cents. Gradually, the value of the Bitcoin rose to its present exchange rate of several thousand dollars or Euros.
With the emergence and spread of other cryptocurrencies, the Bitcoin became a de facto name for almost all digital currencies. Although depicted as an embossed coin, the currency exists only digitally – not physically.
The pictorial representation merely refers to the familiar appearance of a conventional coin. As the very first cryptocurrency, the Bitcoin has increasingly become the digital currency of choice. More than a hundred other digital currencies exist today, but confidence in them is still low.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.