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Cryptocurrency, or crypto for short, refers to digital or virtual currencies that are an alternative form of payment and use cryptography for security. Cryptocurrencies operate on a decentralised network called blockchain, which is a public ledger that records all transactions (accounting system). The most well-known cryptocurrency is Bitcoin, but there are thousands of other cryptocurrencies, including Ethereum, Ripple, and Litecoin. Unlike traditional currencies issued by governments, cryptocurrencies typically do not have a physical form and are not regulated by central banks. They offer decentralization, transparency, and potential for financial privacy.
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