What Is Cryptocurrency And How Does It Work?

Cryptocurrency is a digital or virtual currency that uses cryptography for secure transactions and operates on decentralized systems like blockchain. It enables peer-to-peer payments without relying on banks. Bitcoin, launched in 2009, is the first and most well-known cryptocurrency, followed by others like Ethereum and Litecoin. Cryptocurrencies can be bought, sold, or traded through brokers or exchanges. Mining creates new cryptocurrency units, and transactions are stored in digital wallets. Platforms, payment methods, and investment options exist, including Bitcoin trusts and blockchain stocks.