How does a cryptocurrency work?

When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. The first cryptocurrency was Bitcoin, which was first released as open-source software in 2009.

What is crypto mining?

Crypto mining is how some cryptocurrencies—like Bitcoin —process transactions and mint new tokens. Mining for cryptocurrency is, by design, like digitally mining for gold. Let’s explore the depths of this proverbial mine to help you decide whether to delve deep into the digital trenches as a crypto investor or remain safely above ground.

How do you get cryptocurrency?

For most people, the easiest way to get cryptocurrency is to buy it, either from an exchange or another user. Why are there so many kinds of cryptocurrency? It’s important to remember that Bitcoin is different from cryptocurrency in general. While Bitcoin is the first and most valuable cryptocurrency, the market is large.

What is a centralized cryptocurrency?

When a cryptocurrency is minted, or created prior to issuance, or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.