Cryptocurrency is a digital currency and an alternative form of payment created using encryption algorithms. Unlike traditional money, cryptocurrencies rely on cryptography and blockchain technology, offering a decentralized and secure way to transact. Things to Know About Cryptocurrencies 1. Secured by Cryptography: Cryptocurrencies use advanced encryption techniques to ensure security. 2. Decentralized: They don't rely on central banks or trusted third parties to verify transactions. 3. Powered by Blockchain: Blockchain is the technology that records and tracks cryptocurrency transactions. 4. Requires a Crypto Wallet: To use cryptocurrencies, you need a wallet to store your digital assets. Key Terms in the Cryptocurrency World To understand cryptocurrency better, familiarize yourself with these essential terms: Block: A collection of transaction data on a cryptocurrency network. Blockchain: The technology that maintains records of transactions and tracks ownership. NFTs (N...
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