Cryptocurrency, also called virtual currency or cryptocurrency, is digital money. That means there are no physical coins or bills - everything is online. You can transfer a cryptocurrency to someone on the internet without an intermediary, such as a bank. The best known cryptocurrencies are Bitcoin and Ether, but new crypto-currencies continue to be created.
People could use cryptocurrencies to make quick payments and to avoid transaction fees. Some people might acquire cryptocurrency as an investment, hoping that it will increase in value. Cryptocurrencies can be purchased with a credit card or, in some cases, through a process called "mining." Cryptocurrencies are stored in a wallet or digital wallet, either online, on your computer or on another physical medium.
Before buying a cryptocurrency, you have to know that it does not have the same protections as when using US dollars. You also have to know that scammers are asking people to pay you with a cryptocurrency because they know that those payments are usually irreversible.
