What is Cryptocurrency?

Cryptocurrency

a fully digital form of money that is not backed by banks and uses the blockchain and "the ledger" and to secure and trasnfer

Blockchain

a distributed database or ledger that is shared among the modes of a computer network

Bitcoin

the most popular and valuable cryptocurrency created in the wake of the 2008 market crash

Advantages

1. "easy" money transfer

2. faster transactions

3. great potential for profit

Disadvantages

1. it leaves an immutable digital footprint (Hash)

2. is frequently used in criminal activity and scams

3. due to it's lack of backing, it's basically gambling