#FOMCMeeting

Crypto, short for cryptocurrency, is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (like the Dollar or Rupee), cryptocurrencies operate on decentralized networks based on blockchain technology — a distributed ledger managed by a network of computers (called nodes).

The most well-known cryptocurrency is Bitcoin, introduced in 2009. Since then, thousands of cryptocurrencies have been created, including Ethereum, Binance Coin, Solana, and Ripple.

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Key Features of Crypto:

Decentralized: Not controlled by any government or central authority.

Secure: Uses encryption and blockchain for safe transactions.

Transparent: All transactions are recorded on a public ledger (blockchain).

Global: Can be used anywhere in the world with internet access.

Limited Supply: Many cryptocurrencies have a fixed supply, making them deflationary.

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Uses of Crypto:

Online payments and money transfers

Investment and trading

Decentralized applications (DApps)

NFTs and digital ownership

Smart contracts (especially on Ethereum)