Cryptocurrency Explained: The Future of Money?

Unlike traditional money that you can hold in your hand like silver, gold, and fiat dollar - cryptocurrencies operate on technology called blockchain, which is a decentralized system spread across many computers.

The most well-known cryptocurrency is Bitcoin, but there are many others, like Ethereum, Litecoin, and Ripple. These digital currencies can be used to buy goods and services, just like regular money. However, they are often used as an investment, with people buying them in hopes that their value will increase over time.

Cryptocurrencies are created through a process called mining. Miners use powerful computers to solve complex mathematical problems that validate transactions on the blockchain. Once a problem is solved, the transaction is added to the blockchain, and the miner is rewarded with some cryptocurrency.