Is cryptocurrency a form of payment?

Although cryptocurrency is defined as a form of “digital currency”—implying it’s a kind of money—most businesses and consumers have not adopted it as a common medium of exchange. In other words, most stores will not accept crypto as a form of payment.

What is a cryptocurrency coin called?

Individual units of cryptocurrencies can be referred to as coins or tokens, depending on how they are used. Some are intended to be units of exchange for goods and services, others are stores of value, and some can be used to participate in specific software programs such as games and financial products. » Dive deeper. How does Bitcoin work?

How to invest in crypto?

You can purchase crypto through a cryptocurrency exchange or any financial institution that can broker a cryptocurrency transaction. Once you purchase cryptocurrency, you can secure your crypto coins in a digital wallet, online wallet, or hardware wallet. What are the risks of investing in crypto?

What are cryptocurrencies used for?

There are thousands of cryptocurrencies created for specific purposes, but generally, they're used to pay for services or as speculative investments. Cryptocurrencies are powered by a technology known as blockchain. Crypto prices are extremely volatile, and the industry is filled with uncertainty.