When I was first getting into cryptocurrency, I had a lot of questions.

Cryptocurrencies are digital money, created and held electronically. It is not controlled by any central bank or government. Cryptocurrencies are not issued by a central bank and therefore do not have the same economic backing as traditional money. Instead, cryptocurrencies use blockchain technology to operate without centralized control or management over their distribution, exchange, and use.

Cryptocurrencies are based on blockchain technology, which uses cryptography to verify transactions and control the creation of new digital currencies. However, unlike fiat currencies like US dollars or Euros, cryptocurrencies are not backed by any central authority or organization; rather, they exist only in cyberspace. This makes them extremely attractive to investors who want to diversify their assets but don't want exposure to potentially volatile assets like stocks or bonds.

Cryptocurrencies are also known as cryptocurrencies or virtual currencies because they are not tied to the monetary policy of a particular country. They usually transact online between people without using banks or other financial institutions as intermediaries (this will be necessary if you are using paper money). The decentralized nature of cryptocurrency allows it to be transferred anywhere in the world without going through a third party service provider like Paypal or credit card companies.