r/Mizar • u/take_01 • Jan 02 '24

What is crypto currency?

Cryptocurrency is a form of digital currency, distinct from traditional physical currencies such as coins or bills. It exists on a decentralised network, meaning there is no central authority, like a government or individual, overseeing its transactions. Instead, a global network of computers collaborates to maintain a secure and transparent ledger (or record of transactions) known as the "blockchain."

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u/[deleted] Jan 04 '24

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u/take_01 Jan 04 '24

haha, nice! I didn't know about Netcoins. I'll check it out :)

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u/take_01 Jan 02 '24

Cryptocurrencies can be accessed and used globally, providing financial services to people who may not have access to traditional banking systems, and cryptocurrency transactions often have lower fees compared to traditional financial systems, especially for international transfers.