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cryptocurrency

Cryptocurrency is a form of payment that's entirely digital, moving from one computer to another. The most well-known cryptocurrency, Bitcoin, was also the first ever created.

Cryptocurrency gets its name from the cryptography or encryption used to protect digital "coins" and all information exchanged when they're traded. At the heart of the word is crypto-, from the Greek kryptos, "hidden or concealed." Cryptocurrency proponents emphasize its security, and the benefit of trading without the interference of banks or governments. Critics warn that investing real money in cryptocurrency is risky; in 2022, people lost a total of about $2 trillion using the digital exchanges.

Definitions of cryptocurrency
  1. noun
    a form of payment issued through digital transactions that operate independently of a centralized banking system
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