What is Cryptocurrency?
Cryptocurrencies, or simply "crypto," are digital or virtual currencies that use cryptography for secure financial transactions. They operate independently of a central bank and can be traded on online exchanges or stored in a digital wallet. The first and most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unknown individual or group of individuals under the pseudonym Satoshi Nakamoto. Since then, numerous cryptocurrencies have been created, with varying degrees of success. One of the main appeals of crypto is its decentralized nature. Transactions are recorded on a distributed ledger called a blockchain, which is maintained by a network of computers rather than a central authority. This makes it difficult for any one person or group to manipulate the ledger, making crypto a secure and transparent way to exchange value. Cryptocurrencies are also often used as a store of value, similar to gold. They can be traded on exchanges for fiat currencies (such a...