What is cryptocurrency and how does it work?

Cryptocurrency, sometimes called crypto-currency or crypto,

is any form of currency that exists digitally or virtually and uses cryptography to secure transactions.  

Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units. 

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions

It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. 

Instead of being physical money carried around and exchanged in the real world, 

The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best known today. 

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