Crypto, short for cryptocurrency, refers to a digital or virtual currency that uses cryptography to secure transactions. It's decentralized, meaning it's not controlled by any government or financial institution ¹.
Think of it like the money in your wallet, but instead of physical bills and coins, it exists only in digital form. Transactions are recorded on a public ledger called a blockchain, which helps keep everything secure and transparent.
Some popular examples of cryptocurrencies include Bitcoin, Ethereum, and Litecoin. These digital currencies can be used to buy goods and services, or even traded like stocks and bonds .