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11/18/2019

Wyoming is getting ready to start banking with cryptocurrency. But is it safe?

Cryptocurrency can do a lot of things.

In the real world, cryptocurrency — an arcane digital asset where virtual coins, or tokens, act as stand-ins for cash — transcends borders, rendering exchange fees between monetary systems obsolete. On the internet, tens of thousands of retailers accept cryptocurrency in exchange for the products they sell, and it has boundless potential in the world of venture capital or in larger transactions that involve the trade of securities or other secure financial instruments. Cryptocurrency even has a growing potential in realms like commercial real estate, where international investments become exponentially simplified when transacted via cryptocurrency.

While representative of a relatively minuscule amount of currency in the global economy, cryptocurrencies have been gaining in importance for global trade, offering a unique function for a growing number of industries that rely on them.

Read more on the Casper Star Tribune

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