Crypto (short for cryptocurrency) is a digital or virtual form of money that uses blockchain technology for secure, decentralized transactions. Unlike traditional currencies issued by governments, most cryptocurrencies operate on decentralized networks, making them resistant to censorship and manipulation.
Key Aspects of Crypto:
• Bitcoin (BTC): The first and most well-known cryptocurrency, often referred to as “digital gold.â€
• Altcoins: Any cryptocurrency other than Bitcoin, such as Ethereum (ETH), Solana (SOL), and Binance Coin (BNB).
• Blockchain Technology: A decentralized ledger that records transactions transparently and securely.
• Decentralized Finance (DeFi): A movement aiming to recreate financial services (lending, borrowing, trading) without intermediaries.
• NFTs (Non-Fungible Tokens): Unique digital assets representing ownership of art, music, and more.
• Smart Contracts: Self-executing contracts with terms written into code, commonly used on Ethereum and similar networks.
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