What is cryptocurrency?

Cryptocurrency – money or madness?

Well, to work that one out, you need to understand the nature of the beast. And while cryptocurrency might sound futuristic and out of this world, the reality is that it’s very much a 21st century invention.

In short, cryptocurrency is a decentralised digital currency – a currency that isn’t controlled by any one single person, bank, group or government.

How is cryptocurrency made?

If you’re picturing the jingling coins in your pocket, you can let that go. Technically cryptocurrency is not made of anything; it only exists digitally and there are no physical coins or notes. (Except for fun keepsakes that crypto fans have made along the way).

The ‘crypto’ part of the name comes from ‘cryptography’, which is a way of making information secret and serves as the backbone to all cryptocurrencies. 

Cryptocurrencies by their very nature, are highly technical and Bitcoin (the most well-established cryptocurrency) is no less complicated….