What is Cryptocurrency?

Cryptocurrency refers to digital or virtual currencies that use cryptography for secure financial transactions, control the creation of new units, and verify the transfer of assets. Cryptocurrencies operate on decentralized networks, called blockchains, which are distributed ledgers maintained by a network of computers or nodes. These digital currencies are not issued or regulated by any central authority, such as a government or financial institution. Bitcoin was the first and remains the most well-known cryptocurrency, but there are now thousands of different cryptocurrencies available, each with its own features and uses. Cryptocurrencies have gained popularity due to their potential for anonymity, security, and the ability to bypass traditional financial intermediaries. They can be used for various purposes, including online purchases, investments, remittances, and more.