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What is a cryptocurrency & how does it work?
: 18 A cryptocurrency, crypto-currency, or crypto [a] is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.Who controls a cryptocurrency?
In fact, no single person, company, or government controls a crypto's blockchain. Instead, it's run by a decentralized network of computers worldwide. Anyone with advanced technology skills and coding experience can create a cryptocurrency. The lack of a central authority can also make cryptocurrencies more secure.How do I buy crypto?
You can purchase crypto through a cryptocurrency exchange or any financial institution that can broker a cryptocurrency transaction. Once you purchase cryptocurrency, you can secure your crypto coins in a digital wallet, online wallet, or hardware wallet. What are the risks of investing in crypto?Is cryptocurrency a Public Ledger?
Cryptocurrencies exist and operate on a public ledger called a blockchain, which records all crypto transactions. Blockchain encryption is designed to make all transactions immutable and secure from tampering, counterfeit, and other forms of fraudulent transactions. Is cryptocurrency a type of money?