What Is Cryptocurrency? Meaning & Example
Definition
A cryptocurrency is a digital asset that uses cryptography and a blockchain to record ownership and transfers. Most are not issued by governments and can be very volatile.
Related terms
A blockchain is a shared digital ledger where transactions are grouped into blocks and linked together in order. Many computers keep copies, making records very hard to alter.
BitcoinBitcoin is the first and best-known cryptocurrency, designed as decentralized digital money with a fixed maximum supply. It uses proof of work to secure its network.
Crypto WalletA crypto wallet is software or hardware that stores the keys needed to access and move your crypto. The wallet does not hold coins itself; it holds the keys that control them.
What is Cryptocurrency?
A cryptocurrency is a digital asset that uses cryptography and a blockchain to record ownership and transfers. Most are not issued by governments and can be very volatile.
Can you give an example of Cryptocurrency?
Sending a cryptocurrency to a friend records the transfer on a public blockchain rather than through a bank.