Cryptocurrency, or crypto

Cryptocurrency, or crypto, is a decentralised digital currency based on blockchain technology. Unlike traditional currencies like the US Dollar or the NZ Dollar, cryptocurrencies aren’t controlled by a central authority like a central bank. Instead, crypto relies on a network of users over the internet. People can use crypto to buy goods and services, but many people invest in them as if they were stocks or precious metals. Investors can consider cryptocurrencies as alternative investments due to their potential for high returns, but many acknowledge crypto’s volatility and lack of regulation. The first cryptocurrency was Bitcoin, introduced by Satoshi Nakamoto in 2008. Other well-known cryptocurrencies include Ethereum and Ripple.