Crypto Basics

Cryptocurrency is a digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks based on blockchain technology. Key characteristics: • **Decentralized**: No central authority controls it • **Secure**: Uses cryptographic techniques • **Transparent**: All transactions are recorded on a public ledger • **Global**: Can be sent anywhere in the world • **24/7**: Markets never close The first and most well-known cryptocurrency is Bitcoin, created in 2009 by an anonymous person or group known as Satoshi Nakamoto.