Cryptocurrency (or “crypto”) is digital currency, such as Bitcoin, that is used as a payment method or investment. Cryptocurrencies are named for the cryptography that lets people use them securely without the need for a government or bank.
Here are a few examples:
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Bitcoin was initially developed as a form of payment that isn’t controlled by a central bank. Financial institutions have traditionally been needed to check that a payment went through. But Bitcoin does this automatically, without that central authority.
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Ethereum uses the same underlying technology as Bitcoin. However, it can be used to pay for transactions on the Ethereum blockchain, as well as peer-to-peer payments. This network enables entire financial ecosystems to…
