What Is Cryptocurrency?

Still wondering what cryptocurrency is, how it works, and how to use it? At its core, cryptocurrency is a type of digital or virtual currency that utilizes cryptography for secure and verifiable transactions. Unlike traditional fiat currencies issued by governments, cryptocurrencies are decentralized and operate on a technology called blockchain. Key Takeaways: Cryptocurrency is a type of digital or virtual currency that uses cryptography for secure transactions and operates on a decentralized technology called blockchain. Blockchain is a transparent and distributed ledger that records transactions across a network, ensuring transparency and security, and eliminating the need for intermediaries. Cryptocurrencies get their name from cryptography and currency, leveraging cryptographic techniques to secure transactions. Cryptocurrencies potentially offer advantages like financial inclusivity, faster cross-border transactions, and programmable money through smart contracts.