What are Cryptocurrencies?

Cryptocurrencies are digital currencies that do not exist physically, but are stored in an application called a digital wallet. These coins can be used to buy or sell things online, without the need for a bank or a credit card. To make transactions secure and so that no one can copy or counterfeit the coins, secret keys are used that only the owner of the coins knows. These keys are stored in the digital wallet and are used to send and receive the coins. In addition, all transactions are recorded in a database shared by many computers, called blockchain. This database serves to verify that the coins are authentic and have not been used twice. Thus, cryptocurrencies function as an alternative payment system to the traditional one, which is faster, cheaper and anonymous.

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