Everything you need to know about cryptocurrencies, blockchain technology, and how to get started
Cryptocurrency is a form of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (fiat money), cryptocurrencies operate on decentralized networks based on blockchain technology.
The first and most well-known cryptocurrency is Bitcoin, created in 2009 by an anonymous person or group known as Satoshi Nakamoto.
Blockchain is the underlying technology of most cryptocurrencies. It's a distributed ledger that records all transactions across a network of computers.
Key features of blockchain:
Cryptocurrency investments are highly volatile and speculative. Prices can fluctuate dramatically in short periods. Only invest money you can afford to lose. Cryptocurrencies are largely unregulated, and you may not have the same protections as with traditional investments.
Before investing, understand the basics of blockchain, different cryptocurrencies, and how the technology works. Never invest in something you don't understand.
Select a well-established cryptocurrency exchange with good security measures. Research fees, supported currencies, and user reviews before signing up.
For significant amounts, use a hardware wallet for maximum security. For smaller, active trading amounts, a software wallet may be sufficient.
Begin with a small investment that you can afford to lose. Cryptocurrency markets are highly volatile, especially for newcomers.
Don't put all your funds into one cryptocurrency. Spread your investment across different assets to manage risk.
Use strong passwords, enable two-factor authentication, and be wary of phishing attempts. Your crypto security is your responsibility.
The original cryptocurrency, designed as a decentralized digital currency without central authority.
A decentralized platform that enables smart contracts and decentralized applications to be built and run.
Cryptocurrencies pegged to stable assets like the US dollar, designed to minimize volatility.
Designed primarily as digital cash for transactions.
Use Case: Peer-to-peer payments, remittances, everyday transactions
Blockchain platforms that support decentralized applications.
Use Case: Smart contracts, dApps, decentralized finance
Tokens powering decentralized finance applications.
Use Case: Lending, borrowing, trading without intermediaries
Tokens related to non-fungible tokens and blockchain gaming.
Use Case: Digital ownership, in-game assets, virtual worlds