What is crypto & how does it work?

The word “crypto” in cryptocurrency refers to the special system of encrypting and decrypting information – known as cryptography – which is used to secure all transactions sent between users.

What are cryptocurrencies & crypto tokens?

Both cryptocurrencies and crypto tokens fall under this category. Cryptocurrency: These crypto assets are also called crypto coins and are those native to blockchains. So for instance, bitcoin (BTC) is the native cryptocurrency of the Bitcoin blockchain and ether (ETH) is the native cryptocurrency of the Ethereum blockchain.

What is a cryptocurrency blockchain?

A cryptocurrency blockchain is similar to a bank’s balance sheet or ledger. Each currency has its own blockchain, which is an ongoing, constantly re-verified record of every single transaction ever made using that currency. Unlike a bank’s ledger, a crypto blockchain is distributed across participants of the digital currency’s entire network

What is bitcoin & how does it work?

Bitcoin, the first cryptocurrency created, was developed initially to act as a payment mechanism native to the online world. Faster, cheaper, censorship resistant and not beholden to any government or central bank’s whims. Today, there are thousands of cryptocurrencies.