What is cryptocurrency?

What Is Cryptocurrency? – Forbes Advisor What Is Cryptocurrency? Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Cryptocurrency is decentralized digital money that’s based on blockchain technology.

What are crypto coins and tokens?

Cryptocurrencies can be classified as coins or tokens, based on how they work: A crypto coin is native to a particular blockchain and defined by the network protocol. A crypto token is built on a specific blockchain but defined by a project or contract. If that sounds too technical, here’s a simpler explanation.

What was the first cryptocurrency?

Bitcoin, which launched in 2008, was the first cryptocurrency, and it remains by far the biggest, most influential, and best-known. In the decade since, Bitcoin and other cryptocurrencies like Ethereum have grown as digital alternatives to money issued by governments.

Is crypto a secure currency?

“The best-known crypto, Bitcoin, is a secure, decentralized currency that has become a store of value like gold ,” says David Zeiler, a cryptocurrency expert at financial news site Money Morning. “Some people even refer to it as ‘digital gold.’” Using crypto to make purchases securely depends on what you’re trying to buy.