Crypto currency is a digital or virtual currency that uses cryptography (the practice of secure communication) to secure and verify transactions and to control the creation of new units. Cryptocurrencies operate independently of a central bank and can be transferred directly between individuals without the need for intermediaries such as banks or financial institutions.
The most well-known and valuable cryptocurrency is Bitcoin, which was created in 2009. Since then, thousands of other cryptocurrencies, also known as altcoins, have been created, each with its own unique features and purposes.
Cryptocurrencies are stored in digital wallets and are secured using public and private keys. Transactions are recorded on a Decentralized ledger called the Blockchain, which is maintained by a network of computers around the world.
Cryptocurrencies are subject to high volatility and their value can fluctuate rapidly. They are also not widely accepted as a form of payment, although this is gradually changing as more businesses and individuals begin to Recognize their potential.
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