To put it simply, cryptocurrency is a medium of exchange digital money that is encrypted and decentralised. It is based on blockchain technology which is a system of recording information in a way that makes it difficult or impossible to change. The fact that it is decentralised means there is no central authority that manages and maintains the value of the cryptocurrency - unlike the U.S Dollar or the Euro. You can use it to buy regular goods and services, although most people invest in it like they do in stocks or precious metals. Everyone can purchase cryptocurrency on peer-to-peer networks and cryptocurrency exchanges, such as Coinbase and Bitfinex; however, investing in it might be risky due to its intense price swings and system differences. Keep in mind to not invest more money than you can afford to lose. There are more than 5,000 different cryptos in circulation and the most popular ones are Bitcoin, Ethereum and Dogecoin. Some people even refer to it as 'digital gold'
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I still don't quite understand why anyone would want to buy something so ephemeral. As I am to be the main reader of your blog, could you try to explain even more clearly what it it and how the system works?
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