Cryptocurrency

A cryptocurrency is a type of digital money using cryptography to secure transactions and control the creation of new units. It operates independently of a central bank and can be used to buy goods and services or traded for other currencies. Examples of cryptocurrencies are Bitcoin, Ethereum and Litecoin.

Users manage and transfer their cryptocurrency through digital wallets. Transaction details are recorded on a public ledger known as a blockchain. Cryptocurrency represents a relatively novel concept gaining popularity as an alternative to conventional currency.

Like digital game tokens, cryptocurrencies serve as units for transactions and trading among participants.