crypto

Cryptocurrency, often called “crypto,” is a form of digital or virtual currency that uses cryptography for secure transactions. Unlike traditional currencies issued by governments, cryptocurrencies are typically decentralized, relying on a technology called blockchain—a distributed ledger that records all transactions across a network of computers.

Bitcoin, created in 2009, was the first cryptocurrency and remains the most well-known. Since then, thousands of other cryptocurrencies, like Ethereum, Ripple, and Litecoin, have emerged, each with unique features and purposes. Some, like Bitcoin, aim to function as digital money, while others, like Ethereum, offer platforms for building decentralized applications (DApps) and smart contracts.

Crypto offers a range of advantages, such as fast, low-cost international transactions, financial inclusion for unbanked populations, and the potential for high returns on investment. However, it also has risks, including high volatility, regulatory challenges, and security vulnerabilities like hacking. As a result, crypto has become a popular, though sometimes controversial, asset class within the financial world, spurring innovation, debate, and extensive regulation efforts globally.