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Cryptocurrency is a digital currency that can be used to buy goods and services or traded for a profit.
Cryptocurrencies are powered by a technology known as blockchain, which maintains a tamper-resistant record of transactions and keeps track of who owns what. The use of blockchains addressed a problem faced by previous efforts to create purely digital currencies: preventing people
from making copies of their holdings and attempting to spend it twice.
Individual units of cryptocurrencies can be referred to as coins or tokens, depending on how they are used. Some are intended to be units of exchange for goods and services, others are stores of value, and some can be used to participate in
specific software programs such as games and financial products.
Crypto makes transactions with people on the other side of the planet as seamless as paying with cash at your local grocery store.
All cryptocurrencies are secured using technology called a blockchain, which is constantly checked and verified by a huge amount of computing power.
When paying with cryptocurrency, you don’t need to provide unnecessary personal information to the merchant. Which means your financial information is protected from being shared with third parties
Since your cryptocurrency holdings aren’t linked to any financial institution or government, you can access them from anywhere in the world, no matter what happens to the major players in the global finance system.
Every transaction on the cryptocurrency networks is published publicly, without exception. This means there's no room for manipulation of transactions, changing the money supply, or adjusting the rules mid-game.
cryptocurrency payments can’t be reversed. For merchants, this hugely reduces the likelihood of being defrauded. For customers, it has the potential to make commerce cheaper by eliminating one of the major arguments.
And the fundamental ideas behind cryptocurrencies help make them safe: the systems are permissionless, meaning countless computer scientists and cryptographers have been able to examine all aspects of the networks and their security.
Cryptocurrencies are the first alternative to the traditional banking system, and have powerful advantages over previous payment methods and traditional classes of assets.
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