Cryptocurrency is a digital or virtual currency that uses cryptography for security. It operates independently of a central bank or government. Bitcoin, the first and most widely used cryptocurrency, was created in 2009. Since then, thousands of other cryptocurrencies have been developed. These digital assets use decentralized technology to allow for secure payments and storing money without the need for a bank or government. Understanding the basics of cryptocurrency can be confusing for those new to the concept, but this beginner’s guide will break it down and explain how it works and its potential uses.
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