Cryptocurrency is a digital payment system that uses cryptography to secure transactions. It operates independently of central banks and uses a decentralized system to record transactions and issue new units ¹. Here are some key points about cryptocurrencies ²:
- The first cryptocurrency was Bitcoin, founded in 2009
- Other popular cryptocurrencies include Ethereum, Litecoin, and Ripple
- Cryptocurrencies can be used to buy various products from e-commerce websites
- They are stored in digital wallets and can be purchased through cryptocurrency exchanges
- Transactions are recorded on a public ledger called a blockchain
- The value of cryptocurrencies fluctuates based on supply and demand
- They are considered highly volatile and subject to significant risks
- Investors should research and understand the risks before investing in cryptocurrencies #Binance200M #BTC #bitcoin #TopCoinsJune2024 #Binance200M