What is a Cryptocurrency Crypto Explained for Beginners

What is a cryptocurrency? In this explainer video, we break down all concepts around cryptocurrencies including how they work and what gives each cryptocurrency value? This crypto explained for beginners animation is brought to you by the Lisk Academy.

A cryptocurrency is a tradable digital asset built on blockchain technology that only exists online. There are currently well over 1,000 different cryptocurrencies in the world and many people see them as the basis of a fairer, future economy.

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Bitcoin is the first cryptocurrency in the world (decentralized digital currency). Bitcoin is fundamentally different from all previously created electronic currencies and payment systems. It is not tied to any physical assets or “official” (fiat) currencies, and the price of a digital coin - bitcoin - is regulated exclusively by market supply and demand.

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