Cryptocurrency

Cryptocurrency is a digital asset used to store and exchange value between parties involved in a transaction.

The availability of cryptocurrency is managed by nodes running blockchain software. Crypto wallets are used to store, send, and receive cryptocurrency.

Core Characteristics

  • Digital native asset that exists only virtually
  • Trustless and decentralized
  • No intermediary such as a bank or payment processor
  • Uses cryptography to secure transactions
  • Global, peer-to-peer transfers available 24/7
  • Not issued by a central authority or government

Blockchain Record

Cryptocurrency transactions are stored on a blockchain containing a distributed ledger shared and maintained by participants in the network.