$BTC

What are digital currencies?

Digital currencies or cryptocurrencies are a digital form of money. They are digital assets created for the purpose of being used to pay for goods and services. Digital currencies can be used as a store of value, unit of account, and medium of exchange. Cryptocurrencies are an alternative to traditional money, allowing exchanges to occur outside the system controlled by central banks and banking systems (see digital and cryptocurrency exchange platforms). These digital assets are secured in a distributed ledger called a 'blockchain.' The first digital currency was Bitcoin (BTC), introduced in a white paper by its creator Satoshi Nakamoto. It was launched in 2009. Since then, it has become a standard digital asset (a standard crypto asset). To trade a digital currency without buying or acquiring it directly, this can be done through financial intermediaries (digital currency trading brokers)#satoshiNakamato