Cryptocurrency represents an internet-based medium of exchange that leverages cryptographic functions to perform financial transactions. They leverage blockchain technology to achieve decentralization, immutability, and transparency.

According to the latest cryptocurrency news, there are thousands of cryptocurrencies in existence. However, the most popular ones include Bitcoin, Ethereum, Ripple, Binance Coin, Bitcoin Cash, Tezos, Tron, Litecoin, and EOS, accounting for over 80% of the total market capitalization.

Decentralized cryptocurrencies like Bitcoin have a significant advantage - no single authority can control them. Instead, they are regulated by a predetermined and programmed algorithm. This removes the human element and makes the entire network transparent and immutable.

Cryptocurrencies can be sent directly between two parties, in a process that is quick and cheap, compared to traditional bank transfers. Since there is no central authority or intermediary, users can go through the process without having to worry about complying with various rules.

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