What is Cryptocurrency and How Does it Work? Cryptocurrency – Meaning and Definition Cryptocurrency, often called crypto, is a form of digital or virtual currency that uses cryptography for secure transactions. It is decentralized, meaning there is no central authority, like a bank or government, controlling it. Instead, cryptocurrencies rely on blockchain technology to record transactions and generate new units.
What is Cryptocurrency? Cryptocurrency operates as a peer-to-peer digital payment system, allowing individuals to send and receive payments online without relying on physical money or bank intermediaries.