A cryptocurrency is a type of digital asset that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.
Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies allow parties to transfer value online without the use of a central counterparty, such as a bank.
Some argue that cryptocurrency is a superior form of value transfer because it offers a level of privacy, security, and immutability (irreversibility) that traditional money does not offer.
