What is Cryptocurrency in Retail? Explained

Cryptocurrency is a revolutionary form of digital or virtual currency utilizing cryptographic techniques for secure financial transactions. Operating on decentralized networks powered by blockchain technology, cryptocurrencies, such as Bitcoin and Ethereum, eliminate the need for central authorities like banks. Transactions are verified and recorded on a distributed ledger, providing transparency and security. Cryptocurrencies have garnered global attention for their potential to redefine traditional finance, offering decentralized, borderless, and pseudonymous transactions. While presenting exciting opportunities for innovation, cryptocurrencies also pose challenges related to regulation, security, and market volatility.