penninah Posted May 5, 2020 Share Posted May 5, 2020 What number of crypto currencies are in existence and are they all genuine? Quote Link to comment Share on other sites More sharing options...
0 Parker Posted May 6, 2020 Share Posted May 6, 2020 Hi Penninah, According to significant listing websites, the number of cryptocurrencies that are currently in existence is slightly over 5000. However, there can be an infinite number of cryptocurrencies because the cryptocurrency code is an open source. This means any person can use the code to create their unique type of cryptocurrency. Now, about all cryptocurrencies being genuine, just like with other forms of exchange, scammers always look for a way to defraud people. They do this by creating fake cryptocurrencies and fronting them as replacements for bitcoin. They present them as the latest cryptocurrencies and as good as bitcoins and therefore safe to invest in. One such scenario involved My Big Coin, where investors were conned 6 million dollars. Quote Link to comment Share on other sites More sharing options...
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penninah
What number of crypto currencies are in existence and are they all genuine?
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