Cryptocurrency, or crypto, is a form of digital currency that uses cryptography to secure transactions and control the creation of new units. Unlike traditional currency managed by central banks, crypto is decentralized and operates on blockchain technology.
Blockchain is a transparent and immutable digital ledger that records all transactions occurring within the network. Bitcoin, launched in 2009, is the first and most well-known cryptocurrency, followed by thousands of altcoins such as Ethereum, Solana, and BNB.
The main advantages of crypto are its ability to conduct global transactions without intermediaries, relatively low fees, and fast transfer speeds. However, the crypto market is also known to be highly volatile and high-risk.
Cryptocurrency is becoming increasingly popular across various sectors, from investment, online payments, to gaming and NFTs. With the rapid development of technology, crypto has the potential to change the way we transact and interact with the global financial system.
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