Cryptocurrency is a virtual currency that is taking the world by storm. Being a virtual currency developed on the concept of blockchain technology, cryptocurrencies can carry out various payments and transactions operations including utilized as a productive means of savings and trading. Although, some people and experts view cryptocurrency as a gateway for scams, fraudulent activities etc cryptocurrency has established it's value to be a unique asset for profitable investment due to the upsurges in Bitcoin value, hence promoting adoption of blockchain technology to the world.
When trying out convectional means of business dealings involving intermediaries, representatives, agents etc one would notice that these interventions can make such business operations more complicated and expensive. The introduction of cryptocurrencies brought the concept of peer to peer business dealings, where the structure of intermediaries is demolished, paving the way for a less complicated and inexpensive transaction between parties involved. Transactions involving cryptocurrency is not limited to international or cross border payments barriers because cryptocurrency is not controlled by an corporation, country and government but rather it is independent and allows users to gain full access to authorization over their assets wherein, they can transfer and execute cross border payments seamlessly. High demand and supply of cryptocurrencies has caused increased demand for official and legitimate cryptocurrency exchanges, where traders and buyers can trade on their desired cryptocurrency assets in pairs. Even some blockchain start ups have started using cryptocurrency exchanges for public sale popularly known as Initial Exchange Offering (IEO).