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What is Cryptocurrency?
Cryptocurrency, often abbreviated to “crypto,” is any type of decentralized, digital currency that’s based on cryptography. If you want to understand cryptocurrencies for beginners, these three principles—decentralized, digital, and cryptography—are key.
Decentralized means that the Cryptocurrency isn’t issued by a central authority like a government or bank. The currency is instead possessed, exchanged, and governed by those who use it on a decentralized exchange.
And it’s digital, meaning that Cryptocurrency isn’t based on dollars or coins or gold. Instead the currency is generated by a mathematical process done by a network of computers. This same network is then used to process and exchange the digital currency all around the world.
Cryptography refers to the mathematical and technical tools used to ensure that each unit of cryptocurrency is unique and can’t be copied.
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learn cryptocurrency covers the following free topics:
What is Bitcoin?
How can I buy Bitcoin?
How to store your Bitcoins?
How do Bitcoin Transactions Work?
Who is Satoshi Nakamoto?