Like any currency, cryptocurrencies gain their value based on the scale of community involvement. Cryptocurrency gains value if the demand for it is higher than the supply . When a cryptocurrency is useful, people want to own more of it, driving up the demand. Since people want to use it, they don’t want to sell it.16 Mar 2022
Read moreDoes cryptocurrency have real value?
Similar to Fiat currency, Bitcoin (or most of the cryptocurrencies) is also not backed by any gold or silver hence does not have any intrinsic value . The value of any currency comes from the backing of the state and the trust that people have over the government.
Read more