What is cryptocurrency and how does it work?

Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.

Is cryptocurrency controlled by the government?

Cryptocurrencies are not controlled by the government or central regulatory authorities. As a concept, cryptocurrency works outside of the banking system using different brands or types of coins – Bitcoin being the major player. 1.

What is a cryptocurrency exchange?

A cryptocurrency exchange is an online platform where users can buy and sell different types of cryptocurrencies, such as Bitcoin or Ethereum, using fiat currency (e.g., USD). Order books that show current buy/sell orders for each currency pair listed on the exchange

Is cryptocurrency the ultimate form of sound money?

But as more and more people own (and use) it, there’s every reason to believe that cryptocurrency will become more stable over time, and prove to be the ultimate form of sound money.