What is Cryptocurrency? - 1 minute read
is a digital or virtual asset designed to work as a medium of exchange. It uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.
Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, there have been thousands of different cryptocurrencies created. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services.
Cryptocurrencies have become increasingly popular in recent years, as their prices have risen sharply. Some people believe that cryptocurrencies will eventually replace traditional fiat currencies. Others believe that cryptocurrencies are a speculative bubble that will eventually burst.
How do Cryptocurrencies Work?
Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin
, the first and most well-known cryptocurrency, was created in 2009.