What is cryptocurrency?

A cryptocurrency is a digital currency that uses cryptography for its creation and security.

Most digital cryptocurrencies create new units or coins through the process of mining.

Bitcoin was the first cryptocurrency, created by an individual using the pseudonym Satoshi Nakamoto

Which was first described in a white paper in October 2008 as "a peer-to-peer electronic cash system".

Cryptocurrencies are entirely native to the Internet. You can't touch or hold them physically.

Cryptocurrencies are exchanged electronically without a central party or middle person required to approve transactions between the parties.

They are not used or required by the central bank or government to control or manage them.

Find out more