Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (like the US dollar or Euro), cryptocurrencies operate on decentralized networks based on blockchain technology.
Key features of cryptocurrency include:
Decentralization: Most cryptocurrencies are not controlled by a central authority like a bank or government.
Blockchain Technology: Transactions are recorded on a public ledger, making them secure and transparent.
Anonymity & Security: Users can make transactions without revealing personal information.
Volatility: Crypto prices can change rapidly due to market demand and speculation.
Popular cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Solana (SOL). People use crypto for investment, online purchases, decentralized applications (DeFi), and more.
Would you like to know how to invest in cryptocurrency or how it works in more detail?