What is cryptocurrency and how does it work?

Cryptocurrency is decentralized digital money that’s based on blockchain technology. You may be familiar with the most popular versions, Bitcoin and Ethereum, but there are more than 9,000 different cryptocurrencies in circulation. How Does Cryptocurrency Work? A cryptocurrency is a digital, encrypted, and decentralized medium of exchange.

What are the key takeaways of cryptocurrency?

Key Takeaways. A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the...

What is crypto mining and how does it work?

This is where individuals or groups (miners) use expensive computers that race to solve complicated cryptographic puzzles to verify bundles of transaction records (blocks) to the ledger. Miners get rewarded for their efforts, which is how new coins get created.

What is a semi-anonymous cryptocurrency?

They're semi-anonymous. Cryptocurrencies can be designed so that no one can see who you are or what you're spending your crypto on—though the transactions associated with a wallet address are publicly viewable. They're not controlled by a government.