Cryptocurrency (or “crypto”) is a digital currency, such as Bitcoin, that is used as an alternative payment method or speculative investment. Cryptocurrencies get their name from the cryptographic techniques that let people spend them securely without the need for a central government or bank.
Does crypto do anything useful?
Investing and speculating are the most prominent use cases, although blockchain and cryptocurrencies can be used in supply chains, inventory control, money transfers, lending, voting, and many other consumer and enterprise applications.
Can crypto be converted to cash?
Selling your crypto through a centralized exchange is one of the ways to convert your crypto into cash. Choose the cryptocurrency and amount you want to sell, and once it's converted into fiat, then you can withdraw it to your bank account.
Can I use cryptocurrency to buy things?
Various businesses now accept Bitcoin (BTC) as a payment method, both in-person and online. Despite having higher fees than many other cryptocurrencies, BTC can be helpful for larger transactions — especially considering its impressive security.
How to use cryptocurrency in real life?
You can buy cryptocurrency with fiat money on cryptocurrency exchanges. You send and receive payments using a cryptocurrency wallet. You can use any wallet compatible with the cryptocurrency and exchange you choose. A growing list of online retailers and brick-and-mortar stores accept cryptocurrency as payment.
What can cryptocurrency be used for?
Dec 4, 2023 — Cryptocurrencies let you buy goods and services, use apps and games or trade them for profit. Here's more about what cryptocurrency is and how