Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, numerous other cryptocurrencies have been created.

Cryptocurrencies are built on blockchain technology, which is a distributed ledger that records all transactions. Each transaction is verified and recorded on the blockchain by a network of computers, called nodes. Nodes are rewarded for verifying transactions with cryptocurrency, such as Bitcoin. This process is called mining. In order to spend or receive cryptocurrency, you need a digital wallet that stores your private key, which is like a password that gives you access to your funds.