What is crypto & how does it work?

Crypto are digital assets —they have no tangible form. Cryptocurrencies exist and operate on a public ledger called a blockchain, which records all crypto transactions. Blockchain encryption is designed to make all transactions immutable and secure from tampering, counterfeit, and other forms of fraudulent transactions.

Is crypto the money of the future?

Unfortunately, we aren’t living through the end of crypto — but hopefully the talk of it being the money of the future that will make us all rich has been shown to be lies. Bitcoin, the oldest and most widely held cryptocurrency, has dropped in value by over 16 percent in one week and more than 50 percent over the last six months.

How many cryptocurrencies are there?

At least 8,000 other cryptocurrencies have evolved since Bitcoin became the first in 2009. Cryptocurrencies are digital assets that are created and run on a blockchain. Bitcoin and ether are two popular cryptocurrencies, but there are many others. Investing in cryptocurrency can be extremely risky, and the underlying technology is very new.

Are cryptocurrencies governed by a central bank?

Cryptocurrencies (or “crypto” for short) are decentralized currencies, meaning they’re neither issued nor governed by a central bank. Some cryptocurrencies are issued by their developers, while others are generated by their respective network algorithms. Crypto are digital assets —they have no tangible form.