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What is Cryptocurrency?

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What is cryptocurrency (Crypto)?
 

A cryptocurrency is a form of digital payment that can be exchanged online for other currencies, to purchase goods or procure services. 

 

Cryptocurrencies work using a technology called the blockchain. The term blockchain refers to a decentralized technology spread across many different computers that manage and record any transactions of that particular currency. 

 

The main goals associated with crypto are usually related to its security and its privacy. Companies have begun issuing their own forms of cryptocurrencies, often called tokens, and these can be used or traded in a system set up by the company for goods or services that the company provides. For example, think of tokens that can only be used in arcade systems or phone applications.  They are tokens that can only be used in those systems but need to have other more traditional currencies exchanged to give them value.


 

Cryptocurrency examples: BITCOIN, LITECOIN, ETHEREUM