A cryptocurrency is a controversial digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
- You can spend and transfer money internationally for less than a penny.
- You can sell on the Internet without setting up with a payment service.
- You can protect your wealth from devaluation by the government.
- You can donate to any Bitcoin-accepting organization anywhere.
Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since then, over 4,000 altcoin (alternative coin) variants of bitcoin have been created.