Cryptocurrencies are digital or virtual currencies that use cryptography (advanced coding techniques) for security. They are a form of money that exists only online, so you can’t hold them in your hand like you would with cash or a coin.
The most famous cryptocurrency is Bitcoin, but there are many others like Ethereum, Litecoin, and Ripple. These digital currencies are created and managed through a technology called blockchain, which we talked about on Day 1. Blockchain technology ensures that all transactions are secure, transparent, and difficult to tamper with.
There are many strong arguments for owning crypto, including:
Most people buy cryptocurrency through an exchange. Popular exchanges in Canada include:
In our next email, we’ll cover: “What is bitcoin?”
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