What is cryptocurrency and how does it work?

Cryptocurrency is a digital or virtual form of currency that uses cryptography for secure and private transactions.

Unlike traditional currencies issued by governments, cryptocurrencies are decentralized.

Cryptocurrencies operate on blockchain technology, which is a distributed and immutable digital ledger.

Cryptocurrencies use cryptographic techniques to secure transactions and control the creation of new units.

Cryptocurrencies enable direct peer-to-peer transactions without the need for intermediaries like banks.

Many cryptocurrencies use a process called mining to validate and record transactions on the blockchain.

cryptocurrency is a digital form of money that relies on cryptography and decentralized technology to enable secure, transparent, and borderless transactions.