What is Crypto and Why is it Important?
In recent years, cryptocurrency has transitioned from a niche digital curiosity into a significant financial phenomenon.
Bitcoin is a word thrown around from ETF approvals to micro strategies holdings.
But what exactly is cryptocurrency, and why has it captured the attention of so many?
Coinbase described crypto as:
“cryptocurrency is typically decentralized digital money designed to be used over the internet.”
This is seismic shift from the current banking status quo.
How does bitcoin fit into the current Financial ecosystem?
What is Cryptocurrency?
Cryptocurrency is digital or virtual currency secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
The most well-known cryptocurrency is Bitcoin, residing on the Bitcoin blockchain, a secure, decentralised ledger.
Cryptocurrencies operate on decentralised networks based on blockchain technology.
This technology is essentially a distributed ledger enforced by a network of computers, ensuring transparency and security without the need for a central authority.
