One of the functions of financial institutions is dealing with securities. The recent development is the cryptocurrency market which though not widely spread has been tagged with a lot of risks including potential loss of capital, fraud, and hacks. The currency market has undergone a lot of evolution. Under the gold standard, countries' currencies were tied to gold. On the other hand, cryptocurrency is created via a securely encrypted blockchain whose value depends on the forces of supply and demand. There was widespread fear that by removing the US dollar from the gold standard in 1977, it was going to create a lot of panic and widespread collapse of the monetary system but nothing like that happened. Instead, the US dollar has fueled the world's economic growth due largely to its stability. It is widely believed that this wouldn't have happened if the dollar had stayed on the gold standard. The success of cryptocurrencies depends on the confidence surrounding their use. If there is lack of confidence, then the currency and the economy can collapse with devastating effects