Cryptocurrency Explained in 60 #shorts

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Cryptocurrency explained in 60 seconds. Cryptocurrency is a digital or virtual form of currency that uses cryptography for secure transactions and control over the creation of new units. It operates on a decentralized system called blockchain, which is a distributed ledger technology that lists and verifies transactions across multiple computers. Bitcoin, the first and most well-known cryptocurrency, was introduced in 2009. Since then, thousands of other cryptocurrencies have emerged. Cryptocurrencies are praised for their potential to enable fast, low-cost, and secure transactions without the need for intermediaries like banks. However, they also face criticism for their volatility, association with illicit activities, and lack of regulatory oversight. Subscribe for more financial facts!