Cryptocurrency Investing: A Beginner's Guide to Bitcoin and Beyond - Part 2
Part 2: What is Cryptocurrency? Cryptocurrency is a type of digital asset that uses cryptography to secure transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not controlled by any central authority or government. Bitcoin, created in 2009, was the first and most well-known cryptocurrency. Since then, thousands of other cryptocurrencies have been created, each with its own unique features and value propositions. Unlike traditional currencies, cryptocurrencies are not physical, and transactions are recorded on a public digital ledger called a blockchain. This allows for transparency and security, as all transactions are recorded and verified by a decentralized network of computers. Cryptocurrencies can be used for a variety of purposes, including as a means of payment, as an investment, or as a way to store value. Some cryptocurrencies, such as Ethereum, also allow for the creation of decentralized applications and smart contra...