Cryptocurrency FAQs What is Cryptocurrency? Cryptocurrencies are digital or virtual currencies which use cryptography tools to enforce security and money supply. What would I use Cryptocurrency for? Cryptocurrencies were developed to tackle the user privacy and double-spending issues associated with online money. What are the characteristics of Cryptocurrency? First, they make extensive use of cryptography protocols and functions for security and transaction processing. Second, they are decentralized, meaning anyone can participate in confirming a transaction on its network, often through “mining” the cryptocurrency. Third, cryptocurrencies use an underlying technology called blockchain. When did Cryptocurrencies become prevalant? They first gained mainstream prominence in 2009 after the financial crisis of 2008. What is the most popular cryptocurrency? The most famous example of a cryptocurrency is Bitcoin, a decentralized payment network that uses peer-to-peer technology for transactions in its network. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.