COLORADO SPRINGS — More people are starting to add cryptocurrency to their financial portfolios, and more countries are looking to add digital or cryptocurrency to their economies.
Many countries are further ahead than the U.S. in the process of setting up a digital currency. The U.S. has only begun looking into the possibility.
The U.S. isn’t in a position where it needs something like cryptocurrency. However, countries with stable economies may still be interested in preparing the right infrastructure for a digital currency, should they ever need it in the future.
Most people who use cryptocurrency do it so their transactions won’t be tracked.
So what is cryptocurrency?
A cryptocurrency can be transferred between parties online securely, and functions like a token: people exchange government-issued currency (dollars, pounds, yen, etc.) for cryptocurrency.
Cryptocurrency, and its price fluctuations, are not regulated by any government. Many people invest in cryptocurrency, similar to stocks or precious metals, and watch the value fluctuate.
You can use cryptocurrencies to buy things through phone apps or online, it’s a process that’s similar to money-transfer apps like Venmo.
Bitcoin, Ethereum, and Doge Coin are cryptocurrencies that are more well known or have been in the news recently.
We’re following this survey throughout the day and into tomorrow. Tune in to News5 at 4 p.m. as we review the results!
Editor’s note: This survey is not based on scientific, representative samples and is solely for KOAA purposes.