: 18 A cryptocurrency, crypto-currency, or crypto [a] is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
What does currency mean?
The term currency refers to the tangible form of money that is paper bills and coins. It's used as a medium of exchange that's accepted at face value for products and services as well as for savings and the payment of debt. What's an Example of Currency?
How has bitcoin changed the definition of money?
Samuel Corum for The New York Times The development of Bitcoin and thousands of other cryptocurrencies in a little over a decade has changed the definition of money — and spawned a parallel universe of alternative financial services, allowing crypto businesses to move into traditional banking territory.
Can cryptocurrencies become a form of money?
Although some crypto investors are hopeful that cryptocurrencies might someday be adopted as a form of money, most see crypto as an alternative asset that can appreciate in value. It’s a way to invest in blockchain technology. Some people purchase cryptocurrency as a way of indirectly investing in its underlying blockchain.
