Cryptocurrency is like digital money that you can use to buy things. But unlike regular money, it only exists online. It’s called “crypto” because it uses something called cryptography to keep it secure.
Imagine it as tokens or coins that exist only on the internet and can be used to buy stuff or trade for other currencies. The most famous example is Bitcoin. People can buy Bitcoin using real money and then use it to purchase things online or even save it for later, hoping that its value will go up.
One of the cool things about cryptocurrency is that it’s not controlled by any government or company. This means that people can use it to buy things without needing a bank or any other middleman. It’s kind of like having your own digital wallet that only you can access.
However, it’s important to remember that the value of cryptocurrencies can go up and down quickly, so it can be risky to invest in them. But many people find them exciting because they offer a new way to buy things and invest money without needing traditional banks or financial institutions.