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Episode #75: How Does Cryptocurrency Work?!?

Cryptocurrencies are digital currencies. Like traditional currencies, people can use them to pay each other for goods, services, or gifts. Unlike traditional currencies, there is no such thing as digital cash that someone can hand to you.

That’s because digital currency isn’t exchanged physically, it’s done electronically: people transfer funds to one another using applications on their mobile devices or computers. If you use PayPal, Zelle, or Venmo to make any of your purchases, then you understand this concept already.

See?! We’re halfway there! Kind of. We haven't yet talked about the $544 million pizzas, but give me a few: we'll work up to that, I promise...