A look at how the cryptocurrency market worksA digital currency exchanged entirely over the internet. As on December 14, the total value (market capitalisation — price multiplied with currency in circulation) of these currencies was $514 billion. Bitcoin, the oldest cryptocurrency, dominates with over 54% market share.The concept of bitcoin was proposed by an unknown developer who identified himself as Satoshi Nakamoto. Bitcoin owners use various websites to trade and buy goods or exchange it with other physical currencies. Broad money includes total money deposited in banks, nonbank financial institutions, state and local governments, non-financial public enterprises, and the private sector.

Source: Times of India January 08, 2018 00:00 UTC