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A cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on a blockchain independently of any central institution.

The most well-known cryptocurrency is Bitcoin, but there are thousands of other cryptocurrencies that have been created since. Cryptocurrencies use decentralized networks to record transactions and control the creation of new units. These transactions are recorded in a public ledger, known as a blockchain, which is maintained by a network of computers around the world and supervised by miners.

Cryptocurrencies can be exchanged on centralized (CEX) or decentralized (DEX) exchanges for trading, and can also be used to purchase goods and services, just like traditional currencies.