● Cryptocurrency? Digital asset? What’s the accounting? In this podcast, we discuss what these terms mean and how they impact your financial statements. Beginners guide to crypto When it comes to cryptocurrency, there are some advantages to it versus traditional currency. An advantage of cryptocurrency is privacy. When you make a purchase with cryptocurrency, you don’t need to provide any personal information. This protects you from potential identity theft and other fraudulent activities. And no matter what happens to the government, your investment is secure.
Advocates for cryptocurrency and decentralized finance (where people can make financial deals with one another without being moderated by a middleman or central authority like a bank) in general argue that these platforms are transparent and simultaneously anonymous—both good things. Company CNET Money is an advertising-supported publisher and comparison service. We’re compensated in exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact where and in what order affiliate links appear within advertising units. While we strive to provide a wide range of products and services, CNET Money does not include information about every financial or credit product or service.