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Are you confused about all the different types of currencies available in 2020? Ever since 2008, there has been an increase in the number of different currency terms and definitions to wrap your head around. As the world is going digital, it makes sense that our finances and financial services will migrate online too. However, there are some critical differences between the traditional currencies and the digital assets that are worth getting educated in, in order to preserve your wealth and prevent it from being controlled or lost.
In this article, we break down the different definitions of the key currencies available today, explaining the history and use cases for each. It is crucial that you truly understand the distinctions between currencies as we head towards the digital financial revolution. The term “decentralized finance”, or DeFi, is often thrown around, and could hold the keys to a paradigm shift for traditional finance.
Before getting into the different types...