Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies, it operates on a decentralized network typically based on a technology known as blockchain, which acts as a public financial transaction database. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are known for their extreme volatility but have also been praised for their portability, divisibility, inflation resistance, and transparency.
« Back to Glossary Index
About the author
Jenna Lofton, MBA is a stock trading and investment expert with over a decade of experience in the financial industry. She began her career as a financial advisor on Wall Street and now helps everyday investors make smarter financial decisions through StockHitter.com.
Her insights simplify complex financial topics into actionable strategies for beginners and seasoned traders alike.