How Does It Work?

Cryptocurrencies are a form of electronic payment that does not rely on traditional banking systems to verify transactions. This decentralized system allows individuals to send and receive funds from anywhere in the world.

Cryptocurrencies operate on a distributed public ledger known as a blockchain, which provides a permanent record of all transactions. This ledger is continuously updated and maintained by the currency holders.

Cryptocurrency units are created through a process called mining, which involves using computer power to solve complex mathematical problems that generate new coins. Additionally, users can purchase cryptocurrencies through brokers and store and spend them using secure, encrypted wallets.