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Cryptocurrencies let you buy goods and services, or trade them for profit. Here's more about what cryptocurrency is, how to buy it and how to protect yourself. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Like any currency, cryptocurrencies can be used to buy goods and services. But unlike other currencies, cryptocurrencies are digital and use cryptography to provide secure online transactions. While cryptocurrencies can be used to buy things, much of the interest in these unregulated currencies is to trade them for profit, with speculators at times driving prices skyward. Here are seven things to ask about cryptocurrency, and what to watch out for. 1. What is cryptocurrency? Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many compa...

A cryptocurrency is a digital or   virtual currency   that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on   blockchain   technology—a distributed ledger enforced by a disparate network of computers.  A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation. KEY TAKEAWAYS A cryptocurrency is a new form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities. The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network. Blockchains, which are organizational methods for ensuring the integrity of transactional data, is an essential component of many crypto...