Introduction to Cryptocurrency

Cryptocurrency, often known as crypto-currency or crypto, refers to any sort of digital or virtual currency that uses encryption to protect transactions. Cryptocurrencies do not have a central issuing or governing organization, instead relying on a decentralized system to record transactions and create new units. Technically, a cryptocurrency is an encrypted data string that represents a unit of currency. A blockchain, a peer-to-peer network that also serves as a secure record of transactions such as buying, selling, and transferring, monitors and manages it. Unlike traditional currencies, cryptocurrencies are decentralized, which means they are not issued by governments or other financial institutions. Bitcoin was the 1st cryptocurrency and remains the most well-known to this day. The majority of the interest in cryptocurrencies is speculative, with speculators periodically driving prices upward. Bitcoin, Ether, Litecoin, and Tether are examples of popular cryptocurrencies.