Cryptocurrency is created by code. In many cases, new coins are created when transactions are confirmed by a process known as mining.
Cryptocurrency uses cryptography to create coins and secure transactions. Typically cryptocurrencies are open source with pubic, but encrypted, ledgers of all transactions based on blockchain technology.
There are a number of cryptocurrencies traded on cryptocurrency exchanges, and the growing popularity of cryptocurrency means that despite volatile prices, market caps and values are growing every year.
Popular cryptocurrencies include the original Bitcoin, Ethereum’s Ether, and Litecoin.
Cryptocurrency is legal and taxable in the US, but it isn’t legal tender (you can’t pay your taxes in Bitcoin, it is considered investment property). With that said, due to its infancy and history so far, cryptocurrencies should be invested in and used with their historical volatility in mind.
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TIP: If you are new to cryptocurrency, check out our guide to cryptocurrency for beginners.
With Ethereum wallets you may need to add a custom token. You’ll need the contract address, symbol, and decimal to add a custom token.
You may need to adjust the gas price (your fee paid to miners) when sending Ethereum tokens.
Facebook released details of its Libra cryptocurrency via the Libra White Paper. Libra is stable coin with near zero fees meant to allow for quick, cheap, and stable global transactions.
The US Copyright office granted Craig Steven Wright copyright registrations for the Bitcoin paper and Bitcoin code. This is true even though there is a debate over whether or not Craig is Satoshi.
You can send crypto between Coinbase accounts without paying transaction fees by sending to an email address rather than a crypto address.
When sending cryptocurrency you can choose how much you want to pay in fees in many wallets. If you send the high end of the daily average, your transaction will be processed quickly.
In cryptocurrency, IEO stands for Initial Exchange Offering. These are Initial Coin Offerings hosted on exchanges like Bittrex and Binance.
When a user creates a Bitcoin transaction, they have to include a transaction fee to be paid to miners to incentivize miners to add their transaction to the blockchain.
Digital asset is a term that describes any asset in an electronic form. Crypto assets are digital assets that utilize the technology behind cryptocurrencies.