Aug 17 (edited) • Crypto
What is crypto?
Crypto, short for cryptocurrency, is a type of digital or virtual currency that uses cryptography for security. Unlike traditional money issued by governments (like dollars or euros), cryptocurrencies are typically decentralized and operate on blockchain technology.
Key Features of Crypto:
- DecentralizedMost cryptocurrencies are not controlled by a central authority (like a bank or government). Instead, they run on a distributed network of computers.
- Blockchain TechnologyThis is the digital ledger that records all transactions across the network. It’s public, transparent, and very difficult to alter, making it secure.
- Secure and PrivateCrypto uses advanced cryptography to secure transactions and control the creation of new units. Some coins (like Monero) focus heavily on privacy.
- Digital-OnlyCryptocurrencies exist only in digital form — you can’t hold a Bitcoin in your hand.
- Global and Fast TransactionsYou can send crypto across borders in minutes, often with lower fees compared to banks.
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What is crypto?
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