Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send and receive payments.
Cryptocurrency is stored in digital wallets.
Cryptocurrency received its name because it uses encryption to verify transactions.
There are thousands of cryptocurrencies. Some of the best known include:
Bitcoin:
Founded in 2009, Bitcoin was the first cryptocurrency and is still the most commonly traded. The currency was developed by Satoshi Nakamoto – widely believed to be a pseudonym for an individual or group of people whose precise identity remains unknown.
Ethereum:
Developed in 2015, Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum. It is the most popular cryptocurrency after Bitcoin.
Dogecoin:
Dogecoin (DOGE) was originally created as a meme or parody cryptocurrency, but that didn’t stop it from seeing a surge in value in early summer 2021. Tesla CEO Elon Musk has weighed in on Dogecoin, which helped drive its surge in value and popularity before it fell back dramatically in the second half of the year.
Shiba Inu:
Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person or group known as "Ryoshi".
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