What is cryptocurrency?
Q: What is cryptocurrency?
A: Cryptocurrency is a type of digital currency which uses cryptography to secure and verify transactions. It is usually not controlled by any one person, but instead it is decentralized and controlled by many people.
Q: How are cryptocurrencies secured?
A: Cryptocurrencies are secured using digital signatures which help keep the transactions safe and allow other people to check that the transactions are real.
Q: What was the first cryptocurrency?
A: The first cryptocurrency was Bitcoin, released as open-source software in 2009.
Q: What are altcoins?
A: Altcoins (short for alternative coins) are other types of cryptocurrencies created since Bitcoin's release in 2009.
Q: How do cryptocurrencies work?
A: Cryptocurrencies work through a distributed ledger (a list of transactions shared by everyone), usually a blockchain, which lets everyone know all of the financial transactions that have taken place.
Q: Are cryptocurrencies regulated by governments or central banks?
A: No, cryptocurrencies are not regulated by governments or central banks as they are decentralized and controlled by many people rather than a small amount of individuals like centralized electronic money and central banks.
