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Private currencies are not legal tender, and may be illegal in some jurisdictions; however, the advent of cryptocurrencies may spark a renaissance in digital private currencies.

Currency is a medium of exchange for goods and services. In short, it's money, in the form of paper and coins, usually issued by a government and generally accepted at its face value as a method of payment.

Before money was invented, people bartered for goods and services. It wasn't until about 5,000 years ago that the Mesopotamian people created the shekel, which is considered the first known form of currency. Gold and silver coins date back to around 650 to 600 B.C. when stamped coins were used to pay armies.

You can make your own cryptocurrency. Usually creating a new coin or token requires some computer coding expertise, but you also can choose to hire a blockchain developer to create a digital currency for you.

The Mesopotamian shekel ? the first known form of currency ? emerged nearly 5,000 years ago. The earliest known mints date to 650 and 600 B.C. in Asia Minor, where the elites of Lydia and Ionia used stamped silver and gold coins to pay armies.

The authority to print money in the U.S. rests solely with the federal government, and the only legal tender in the country is the U.S. dollar. So, while the Tenino Wooden Dollar sounds like a great idea, is it legal? If it really were a competing currency, the answer would be no.

Money is a system of value that facilitates the exchange of goods in an economy. Using money allows buyers and sellers to pay less in transaction costs, compared to barter trading. The first types of money were commodities. Their physical properties made them desirable as a medium of exchange.