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Kelly May


Understanding Cryptocurrency

4/11/2022 (minor revision)
Authors: Nichole Huff, Kelly May

Cryptocurrency--such as Bitcoin, Litecoin, Ether, or others--is a form of digital payment consumers can use to buy goods and services. It exists without tangible corresponding bills or coins, and it is not issued or backed by government agencies. At its core, cryptocurrency is essentially digital computer software. People or entities can transfer it online without the need for a bank or financial institution. The currency is stored within a digital wallet that consumers can maintain either online or offline using a hard drive or paper printout.

Departments: Family and Consumer Sciences
Series: FCS: Family Resource Management (FCS5 series)
Size: 900 kb
Pages: 3