The role of cryptocurrenciesin the modern economy

In the conditions of the information economy, new objects and structures of monetary relations arise and develop. Discussions about blockchain technology and cryptocurrencies are of interest to the population. This interest is caused by various factors: global digitalization, distrust of existing payment systems, instability of economic relations. As a result, an attractive means of payment appeared - cryptocurrency. The volume of capitalization of the cryptocurrency market is constantly growing, so the demand for it is constantly increasing. Despite the advantages for users from the side of quick earnings and funds for investment, the cryptocurrency has a number of negative impacts on the subjects of the Russian Federation. The regions are suffering enormous losses and are suffering damage from installations for the extraction of cryptocurrencies. In 2021, the Irkutsk Region recorded an increase in energy consumption by 4 times more than a year earlier. At this stage, electric grid companies are not ready for such a large amount of electricity consumption, loads on the network in such an amount have led to emergency shutdowns. Companies are constantly suffering damage due to the current situation, as they use all resources to restore the operation of networks. The object of the study is cryptocurrency. The subject of the study is the impact of cryptocurrencies on the modern market. The purpose of the study is to analyze the existing cryptocurrency market, identify the possibility of earning and investing in this currency, and analyze the negative effects of crypto currency on the economy of certain regions of Russia.