What Is Cryptocurrency? Cryptocurrencies are digital currencies. They are created using digital cryptography to process transactions and create new “coins.” Cryptocurrencies like Bitcoin are popular because they are decentralized. In other words, banks and governments don’t control access to the currency.
In contrast, fiat currencies are more easily manipulated by governments and banks. There are thousands of Bitcoin alternatives called altcoins. Cryptocurrencies like Ethereum and Ripple have improved upon Bitcoin’s original model or created differences in their currencies to support niche uses.
All very true! What is your favorite altcoin?