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One of the conceits of cryptocurrencies on the market, it's important to understand the types.
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One of the conceits of cryptocurrencies on the market, it's important to understand the types.
This recent article from Coindesk illustrates the point, with bitcoin trading at a premium in Nigeria given the weakness of the Naira and the attempts to legislate against its use. Bitcoins are recognized as a form of currency in many countries, but only one considers them legal tender. As markets for an asset mature, other price mechanisms emerge, known as Derivatives which enable speculation on the price at some point in the future.
