Crypto… The Wild West: Is Crypto the Future of Currencies?

The Investigator Newsletter

Volume 13 | Issue 1
November 1st, 2022

The Rise

The idea of exchanging goods for other
goods has been around for centuries.
In historical times, materials such as
commodities or livestock were used as
forms of currency while trading.
However, these definitions have since
changed. In recent years, physical
currencies like cash and coins have
grown into forms that we now
recognize as debit or credit cards. Even
more recently, as of 2009, a solely
online-based form of currency was
created. This currency is known as

A cryptocurrency is a digital form of currency that is used to buy goods or services, and it can be used for trading profit by investing in short-term
securities or derivatives. Like a token at the arcade, a real form of currency must first be exchanged to use and access a cryptocurrencies ability. From there, the currency is managed and recorded by a
type of technology called the blockchain, which assigns private and public keys to maintain a high level of security. Today, there are thousands of different forms of cryptocurrencies out in the digital universe, collectively being worth more
than $2.9 trillion as of November 29th, 2021. Bitcoin is the most popular form of cryptocurrency, however, there are other popular forms such as Ethereum, Binance Coin, Tether, Solana, Cardano, XRP, USD Coin, Polkadot to Dogecoin!

Cryptocurrencies are very popular for a vast array of reasons. For instance, cryptocurrency removes central banks from managing the money supply. Many people do not like supporting large
banking institutions, therefore, cryptocurrency becomes a viable option for them. As well, crypto technology systems promote a more secure form of payment, as opposed to their moretraditional counterparts. Moreover, it is well-known that people like to invest with a return involving low-risk, and highreward strategies. With the creation of new cryptocurrencies, people believe that by investing in these currencies, their investments may become highly valuable in the future, leading to great profit!

BCSI Investigations | Vancouver | Private Investigator | Firm Profile

If you or anyone you know have been a victim of a cryptocurrency fraud either through
enticement, fake investment platforms, social media scams or even mining frauds,
please reach out to us for a free consultation with one of our experienced investigators at
604-922-6572 or via email at

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