Cryptocurrency is a type of digital asset that uses cryptography for security and operates independently of a central bank. The first and most well-known cryptocurrency is Bitcoin, but there are many other types, including Ethereum, Ripple, and Litecoin.
Cryptocurrency operates on a decentralized system, meaning that transactions are processed and verified by a network of users instead of a central authority. This makes the transactions secure, transparent, and resistant to censorship.
Cryptocurrency is used for a variety of purposes, including as a medium of exchange for goods and services, as an investment, and as a store of value. Due to its decentralized nature and potential for fast, low-cost transactions, cryptocurrency has the potential to disrupt traditional financial systems and has become a growing area of interest for investors and institutions.