A Cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Here at Union Wealth Management we accept all major forms of Cryptocurrency and we also trade with it on different platforms. Cryptocurrencies are a kind of alternative currency and digital currency (of which virtual currency is a subset). Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.
The decentralized control of each Cryptocurrency works through distributed ledger technology, typically a blockchain that serves as a public financial transaction database.
Decentralized Cryptocurrency is produced by the entire Cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized Cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. With Union Wealth Management, investors will be able to buy shares in the likes of Facebook, Apple, Amazon and Google, or buy shares of ETFs like Vanguard Growth, and indexes like the Russell 2000, all using Bitcoin of course.