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What Is Cryptocurrency? A Complete Guide to Crypto and Digital Currencies

Cryptocurrency, or crypto, is a digital currency designed to work as a medium of exchange for purchasing goods and services.

By Adam Levy – Updated Nov 16, 2023 at 12:26PM

Key Points

  • Cryptocurrency relies on blockchain to verify transactions without central banks.
  • Thousands of cryptocurrencies exist, evolving constantly with new applications.
  • Investing in cryptocurrency could produce high returns but comes with volatility risks.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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