Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. It is decentralized, meaning it is not controlled by any government or central authority like a bank. Instead, it operates on blockchain technology, a distributed ledger system that records all transactions across a network of computers.

Key Features of Cryptocurrency:

1. Decentralization: No central authority; managed by a network (usually called a blockchain).

2. Encryption (Cryptography): Used to secure transactions and control the creation of new coins.

3. Digital-Only: Exists only in digital form; no physical coins or notes.

4. Peer-to-Peer Transactions: You can send or receive cryptocurrency directly from anyone, anywhere in the world, without needing a middleman.

5. Transparency: All transactions are recorded on a public ledger that anyone can verify.

6. Limited Supply: Many cryptocurrencies (like Bitcoin) have a fixed supply, which helps protect against inflation.

Popular Cryptocurrencies:

Bitcoin (BTC) – The first and most well-known cryptocurrency.

Ethereum (ETH) – Known for its smart contract functionality.

Binance Coin (BNB), Ripple (XRP), Solana (SOL) – Other major cryptocurrencies.

Uses:

Investment (buy low, sell high)

Online payments

Remittances (sending money internationally)

Decentralized finance (DeFi)

NFTs and Web3 applications

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