A cryptocurrency is a digital or virtual currency that can be used as an alternative form of payment. Bitcoin and Ether are two examples. Cryptocurrencies use blockchains (a shared online database or ledger) with complex cryptography to process and secure transactions. Traditional currencies rely on intermediaries and central regulatory bodies to work. By contrast, cryptocurrencies are decentralized and are theoretically resilient to centralized management or interference.

Video and transcript available here: https://invested.mdm.ca/financial-literacy/cryptocurrencies 

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