What are cryptocurrencies? #WithBinance2024
In short, digital currency, sometimes called cryptocurrency or Crypto, is a form of digital or virtual assets that uses encryption technology to secure transactions. What distinguishes digital currencies is that they use a decentralized system to record transactions and issue new currencies.
Cryptocurrencies operate through a distributed public ledger called Blockchain, which is a private record of all transactions that are updated and maintained by currency owners.
Cryptocurrency is created through a process called mining, which involves using computer power to solve complex mathematical problems through which the miner is rewarded with digital currencies. Users can also buy currencies from brokers and store and maintain them through a digital wallet.