Glossary
Cryptocurrency
Crypto
A cryptocurrency is a digital asset that uses cryptography and a distributed ledger to record ownership without a central authority.
Networks reach agreement on the ledger through consensus mechanisms — proof-of-work in Bitcoin, proof-of-stake in Ethereum and most newer chains. Beyond payments, tokens are used for smart contracts, staking, governance and collateral in decentralised finance.
Crypto markets trade continuously, are far more volatile than major FX pairs, and are dominated by Bitcoin and Ethereum in both market capitalisation and liquidity.