Cryptocurrency is a completely digital, decentralized form of currency. It can be used as a means of payment or exchange (though that’s not a very practical use today), or as a potential store of value. Since it’s a digital currency, you can’t carry Bitcoins around physically in bill or coin form; all transactions take place online. Cryptocurrency is also decentralized, meaning it’s not backed by government authority the way the U.S. dollar, for example, is. Instead, it’s maintained by its users.
Published on March 14, 2019