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.