Every morning before 8 am ET, Inside.com shares with you the price movement of the top currencies vs the US Dollar. These currencies are presented in a manner that shows you how many US Dollars it would cost you to purchase a single unit of that currency. A positive price change then implies that the foreign currency has increased in value compared to the US Dollar while a negative price change implies that the foreign currency has decreased in value compared to the US Dollar. As an American holding US Dollars then you actually want those price changes to be negative and not positive each morning. If however, you hold another currency, you would benefit from a positive change in the price.
Included in our currency exchange rate graphics is the price of Bitcoin and Ethereum, unlike the other currencies features, these are not free-floating fiat currencies issues by other governments, instead, these are decentralized cryptocurrencies exchanged on open markets around the globe. The exact classification of cryptocurrencies as either a commodity, security/stock, or currency has yet to be decided by the United States regulators. Despite this, the decision has been made to include it as a currency given the legal status confirmed upon it by the government of El Salvador which is the only country to make such a clear classification at this time.
🇬🇧 GBP - Pound Sterling
The Pound Sterling is a currency issued by the Bank of England and minted by the Royal Mint. The currency was firm issues in the year 800. It serves as the official currency of the United Kingdom, Jersey, Guernsey, Isle of Man, Gibraltar, South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is the 4th most valuable currency in the world based on reserve holdings.
🇪🇺 EUR - Euro
The Euro is a currency issued by the European Central Bank, it is minted by numerous different national mints across Europe. The currency was first used on January 1st, 1999 with the first banknotes issued on January 1st, 2002. It serves as the official currency of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, Andorra, Monaco, San Marino, Vatican City, Saint Barthelemy and Saint Pierre and Miquelon. It is also unofficially used in Kosovo, Montenegro, Zimbabwe, Israel, North Korea, Sierra Leone, and Venezuela. It is the 2nd most valuable currency in the world based on reserve holdings.
🇨🇦 CAD- Canadian Dollar
The Canadian Dollar is a currency issued by the Bank of Canada and Minted by the Royal Canadian Mint. The currency was first issued in 1858 and was preceded by the Canadian pound. The change was made to mimic the US Dollar for ease of trade instead of the Pound Sterling despite Canada being a part of the British Empire. It officially serves as the currency of Canada and is unofficially used by Saint Pierre and Miquelon. It is the world's sixth most traded currency and has a considerable impact on US economic activity due to its status as the United States' 2nd largest trading partner.
₿ BTC - Bitcoin
Bitcoin is a cryptocurrency whose Genesis block was mined on January 3rd, 2009 by creator Satoshi Nakamoto. It has no central bank or mint. New coins are issued approximately every 10 minutes and awarded to the 'miners' who process transactions on the network. The currency has a supply limit of 21M. At a price of $33k Bitcoin is equivalent to the 16th largest currency in the world by market capitalization and would be the 10th biggest company in the world by the same measure.
⚫ ETH - Ethereum
Ethereum is a cryptocurrency whose Genesis block was mined on July 30th, 2015. It was founded by Vitalik Buterin and Gavin Wood and is supported by the Ethereum Foundation. Like Bitcoin, there is no central bank and the coins are automatically distributed to those who process transactions on the network. At a price of $2k, it would be the 36th largest currency in the world and 42nd largest company by market capitalization.