Cryptocurrency is a digital or virtual currency that uses cryptography to secure and verify transactions and to control the creation of new units. Cryptocurrencies are decentralized and operate independently of a central bank. Instead, they use a distributed ledger called blockchain, which maintains a record of all transactions across a network of computers.
One of the most well-known cryptocurrencies is Bitcoin, which was created in 2009 by an unknown person using the name Satoshi Nakamoto. Bitcoin is the first decentralized cryptocurrency and is often used as a store of value or a medium of exchange. However, there are now thousands of other cryptocurrencies, including Ethereum, Litecoin, and Dogecoin, among others.
The value of cryptocurrencies can be highly volatile, with large fluctuations in price occurring within a short period of time. Cryptocurrencies can also be subject to hacking and fraud, and there is no guarantee of their value or stability. Despite these risks, many people are interested in investing in cryptocurrencies as a potentially lucrative alternative asset class.
