Cryptocurrency is basically money that only exists digitally and offers an alternative form of payment to cash, credit cards, and cheques. The technology behind cryptocurrency uses cryptography and blockchain technology, which makes transactions secure.
A cryptocurrency wallet is a digital wallet i.e. a software program that stores the public and private keys (synonymous to bank account numbers) and can be used to track ownership, send and receive digital currency, and monitor balances. Cryptocurrency wallets don’t actually store currency, they simply record transactions stored on the blockchain.
A cryptocurrency exchange or a digital currency exchange is a business with an online platform that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money (e.g. NZ Dollar, British Pound) or other digital currencies.
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