digital currencies that use cryptography to allow secure online payments without the need for a third party. They are worth what people are willing to pay for them in the market, and have no intrinsic or legislated value.
Here are some things to know about cryptocurrencies:
The first decentralized cryptocurrency, invented in 2008 by Satoshi Nakamoto. Bitcoin is a token that represents value, and ownership is transferred when transactions are made to another person's public key.
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