In the fast-changing world of finances, cryptocurrency stands out. It has drawn the interest of many people and companies. This detailed guide will show you the world of digital money. You’ll learn about its tech, top currencies, how to invest, and where it’s heading.

Cryptocurrency, known simply as “crypto,” is digital money. It isn’t controlled by governments or banks. Instead, it uses special math and technology for safe and open deals. Choices like Bitcoin and Ethereum keep growing, offering new chances and changes.

Interested in how crypto might change our daily lives? Do these new forms of money rival old energy sources in power? And what do they mean for our financial future? This guide will help you answer these questions. Plus, you’ll see how cryptocurrency can change the world.

Key Takeaways

• Cryptocurrency is a form of digital currency that operates independently of central banks or governments.
• Cryptocurrencies use cryptography and blockchain technology to facilitate secure and transparent transactions.
• The cryptocurrency ecosystem is rapidly expanding, with Bitcoin, Ethereum, and a growing number of altcoins gaining popularity.
• Cryptocurrency has the potential to disrupt traditional financial systems and reshape the future of finance.
• Understanding the impact of cryptocurrency on energy consumption and its comparison to traditional power sources is crucial.

What is Cryptocurrency?

Cryptocurrency is a type of digital money, free from control by central banks or governments. A blockchain backs it, which is a network of computers. This system allows for safe and open transactions. Bitcoin and Ethereum are famous examples. They offer quick transactions, lower charges, and work outside the traditional money system.

They use cryptography to secure deals. This technology keeps cryptocurrency transactions safe from fraud. Cryptocurrencies don’t answer to a single power. This gives users more control over their money and keeps their dealings private.

The Rise of Cryptocurrencies

Bitcoin first appeared in 2009 thanks to an unknown person or group named Satoshi Nakamoto. Now, many other cryptocurrencies, like altcoins, have come to life. Each offers something special.

• Ethereum, started in 2015, stands as the second big cryptocurrency. It’s known for smart contracts and decentralized apps.
• Ripple, since 2012, aims to follow various transactions, like global payments and the move of assets.
• Cardano, Solana, Dogecoin, and XRP are also big, showing how varied and creative the digital currency sphere is.

The use of cryptocurrency and blockchain keeps growing. They have the power to change many fields and the financial world as we know it.

“Cryptocurrencies are a promising innovation because they show the potential to make financial interactions easier and low cost.”
– Bill Gates, Co-founder of Microsoft

How Does Cryptocurrency Work?

Cryptocurrency works because of the blockchain technology. This is a public, decentralized ledger. It records and checks all transactions with math and special codes. A network of computers, called “miners,” helps keep the blockchain safe by checking and adding transactions.

The mining part is like solving puzzles to prove a transaction is real. Miners get new cryptocurrency as a reward. This keeps the system running without any one person or group controlling it.

The Blockchain: The Foundation of Cryptocurrency

The blockchain is the heart of cryptocurrencies. It’s a ledger that’s digital, distributed, and secure. Every transaction is in a block, and every new one adds a link to a chain.

The powerful feature of blockchain is its trust. It’s really hard to change or cheat on. Everyone can always see the full history of all transactions.

The Role of Miners in Cryptocurrency Transactions

Miners play a key role in keeping cryptocurrencies safe. They use computers to solve complex puzzles. This process, called “proof of work,” confirms a transaction is good and adds it to the blockchain.

This work is important for keeping the system secure and fair. Miners help block anyone trying to alter the blockchain or use the same funds twice.

Cryptocurrency	Mining Rewards	Energy Consumption	Transactions per Second
Bitcoin	6.25 BTC (approx. $200,000)	127 TWh (exceeds Norway’s annual consumption)	4 – 7 TPS
Ethereum	3 ETH (approx. $10,000)	112 TWh	15 – 45 TPS
Solana	0.00178 SOL (approx. $55)	18 TWh	Around 3,000 TPS

The table above shows how Bitcoin, Ethereum, and Solana compare in rewards, energy use, and speed of transactions.

In the end, it’s the decentralized setup of cryptocurrency that makes it work. The blockchain and miners together make sure transactions are safe and fair. This way, there’s no big boss controlling the money. It’s a major change in how we see and use money.

Popular Cryptocurrencies

The cryptocurrency world has thousands of digital coins called “altcoins.” However, some are more known and valuable. Bitcoin leads with a market cap over $1 trillion. Ethereum is next, featuring decentralized apps and smart contracts.

Also popular are Binance Coin, Solana, and Tether, each serving different needs. Their place in the market can change over time.

Cryptocurrency	Market Cap (Billion USD)	Price (USD)	Year-over-Year Return
Bitcoin (BTC)	$1,300	$60,000	160%
Ethereum (ETH)	$424.8	$3,000	103%
Tether (USDT)	$112.4	$1.00	0%
Binance Coin (BNB)	$89.9	$300	164%
Solana (SOL)	$70.8	$200	906%
USD Coin (USDC)	$32.0	$1.00	0%
XRP (XRP)	$26.9	$0.74	-6%
Dogecoin (DOGE)	$20.3	$0.16	130%
Toncoin (TON)	$16.6	$2.50	354%
Cardano (ADA)	$15.3	$0.31	53%

Solana (SOL) has shown the biggest gain, with a 906% increase. Toncoin (TON) and Binance Coin (BNB) also grew significantly. However, XRP (XRP) faced a slight decrease.

Cryptocurrency rankings and values can shift fast. It’s wise to research and be careful with Bitcoin, Ethereum, and other altcoins.

“The cryptocurrency world is always changing, offering new ideas. It’s key to be up-to-date and smart in any investments.”

cryptocurrency: The Rise of Digital Money

Cryptocurrency has become very popular in recent years. It offers a new way to pay, invest, and grow financially. This new form of money is not controlled by governments or banks. Many people and big investors are becoming interested in it.

Since 2009, Bitcoin has led the way in cryptocurrencies. Its value has even hit over $1 trillion. By 2023, about 17% of adults in the U.S. had joined in. Plus, Bitcoin’s value went over $60,000 in November 2021.

El Salvador was the first country to make Bitcoin an official payment in 2021. Yet, only a small part of their population used it for buying things by 2023. However, the number of different cryptocurrencies has exploded. Over 9,000 are now available as of 2022.

More and more countries are looking into digital money. They are exploring the idea of creating their own types. This shows that digital money is here to stay and will likely bring changes to how we handle money worldwide.

“Cryptocurrencies have the potential to change our relationship with money. They could make financial services better for everyone in the world.”

The potential of digital money is very exciting. It could make paying easier, cheaper, and help people who don’t have access to banks. With more people using cryptocurrencies and more countries exploring them, the financial world is on the brink of significant changes.

Blockchain: The Foundation of Cryptocurrencies

Blockchain is at the heart of the cryptocurrency revolution. It’s a cutting-edge technology. It serves as a distributed, decentralized ledger for cryptocurrencies. This lets transactions happen securely and transparently, all without a central authority.

The Decentralized Backbone of Cryptocurrencies

Blockchain tech runs on a network that’s decentralized. Each block in the chain records lots of transactions. They’re all linked in order, making a never-changing, open record of everything that’s happened. This approach means cryptocurrencies don’t need banks or governments to work.

In 1991, the basic idea of blockchain started. Its first real use was with the creation of Bitcoin in January 2009. Since then, blockchain has gone further than just coins. It’s become important in supply chains, finance, health care, and voting.

“Blockchain technology is characterized by decentralization where all users have equal authority within the network, making it immune to censorship and single points of failure.”

The decentralized nature of blockchain keeps cryptocurrencies safe and open. This means there’s no one in charge, making it hard for anyone to stop or change things. It makes the whole system safe from being closed down by one person or something going wrong.

All transactions in the blockchain are open for everyone to see, which increases trust. The tech uses strong coding to keep everything safe. This makes it very hard to change anything once it’s been put in the system. This trust in the system’s honesty is very important for cryptocurrencies to work securely.

The mining process, which adds transactions to the blockchain, is very important for cryptocurrencies. Miners use their computers to solve hard puzzles. This is how transactions are checked and the system stays secure. This whole process makes sure everyone agrees on what goes on the blockchain.

As blockchain grows, it’s clear it could change many areas, especially finance. It’s the base that’s letting cryptocurrencies and decentralized finance (DeFi) grow. This new way of dealing with money is changing how we look at and use digital money and financial systems.

Cryptocurrency Mining Explained

Cryptocurrency mining is vital for digital currencies. It creates new digital coins and checks transactions. This happens by using strong computers to solve hard math problems.

Miners get new coins when they solve these problems. This makes the whole system safer and honest because many people are checking each transaction.

The Rewards of Cryptocurrency Mining

Mining Bitcoin gives the miner actual bitcoins. At first, this reward was 50 bitcoins for mining a block in 2009. But, this reward drops by half every four years. It went from 50 to 25, then to 12.5, and now it’s 6.25 bitcoins since April 2024’s halving.

Now, the Bitcoin network’s mining rate is huge, over 611 exahashes every second. The mining is very hard. Trying to solve a problem is like trying 1 in 88.1 trillion times to find a needle in a haystack.

There will be a maximum number of bitcoins, 21 million, and when it’s all mined, miners will earn from transaction fees. This will happen by about 2140.

Mining digital coins needs a lot of electricity, which makes it costly. It also costs money to keep the mining hardware cool. The heat these machines make must be controlled well.

Using special hardware for mining, like ASIC miners, is important. They work better than regular computers. Being part of a mining pool can also make mining more effective and profitable.

“The price of Bitcoin reached over $70,000 on March 8, 2024, with the reward for mining a block being 6.25 BTC, valued at $426,781.25 at the time.”

As the cryptocurrency world changes, so will mining. There will be new challenges and rewards. Miners will keep the blockchain safe and working well.

Cryptocurrency Wallets: Storing Your Digital Assets

Getting into cryptocurrency means you need a safe place to keep your coins. That’s where cryptocurrency wallets come in. They let you manage your digital money securely. These wallets can be on your computer, a physical device, or even exist as a piece of paper.

When you want to get cryptocurrency, you use a public address. And, your private keys let you control your money. Keeping these private keys safe is very important. They’re the only things that let you use and protect your cryptocurrency.

Types of Cryptocurrency Wallets

There are three main types of cryptocurrency wallets:

• Hardware Wallets: These are like flash drives, keeping your keys offline to avoid hackers. Popular choices are Ledger and Trezor.
• Software Wallets: They come in apps for your computer, phone, or the web, making it easy to use your digital assets. Some examples are Exodus and Trust Wallet.
• Paper Wallets: You can also write down your keys on paper, keeping them safe from online attacks.

Each wallet has its good points and bad points. It’s important to pick the one that’s right for you. Think about how you plan to use and keep your cryptocurrency safe.

Securing Your Cryptocurrency Wallet

It’s super important to keep your private keys safe, no matter what wallet you pick. Here’s how:

1. Make copies of your private keys and keep them in different safe spots, like encrypted drives or safe deposit boxes.
2. Use two-factor authentication (2FA) on your wallets to make them harder to break into.
3. Always update your wallet and your devices to fix problems and keep things secure.
4. Be on the lookout for scams and attacks that could try to steal your digital assets.

Following these steps will help keep your digital assets safe. This way, you can be sure your cryptocurrency is well-protected.

“Keeping your private keys safe is the first step to making your cryptocurrency wallet secure. Without them, your digital money could be stolen.”

Investing in Cryptocurrencies

Cryptocurrencies are becoming a top choice for investment. They draw in both people and big companies looking to make a lot of money. But, the prices can change a lot and very quickly. This means you could make a lot or lose a lot if you’re not careful.

Navigating the Volatile Cryptocurrency Market

The prices of cryptocurrencies like Bitcoin and Ethereum can change a lot. For example, in 2021, Bitcoin reached about $60,000 but then fell to about $17,000 the next year. This changing value is both a chance to win and a risk.

Some investors have added cryptocurrencies to their mix to potentially earn more. But, if they don’t time their buying and selling right, they could lose a lot of money. To do well in this market, it’s important to study and have a careful plan for the long term.

Regulatory Considerations and Legal Implications

Rules around cryptocurrencies keep changing. People are still arguing over whether they should be seen like stocks and bonds. However, in January 2024, the Securities and Exchange Commission (SEC) allowed trading for the first exchange-traded funds (ETFs) holding cryptocurrencies, marking a big step for the industry.

Remember, there are tax rules for making money on cryptocurrency. The IRS sees them as property. So, any profit or loss from selling them can mean you owe extra in taxes. The rules around tax for cryptocurrency ETFs and bitcoin ETFs can be pretty tricky too.

Key Cryptocurrency Investment Considerations	Potential Impacts
Volatility and Price Fluctuations	Cryptocurrencies can experience rapid and significant price swings, leading to substantial gains or losses for investors.
Regulatory Uncertainty	Ongoing debates and policy changes around the legal classification and taxation of cryptocurrencies can create complexity for investors.
Security and Storage Risks	Theft or loss of login credentials can result in the denial of access to cryptocurrency exchanges and wallets, leading to potential financial losses.
Speculative Nature and Fraud Risks	Investments in cryptocurrencies are considered highly speculative, with increased risks of fraud and security breaches.

Since the cryptocurrency market is always changing, it’s important to stay updated. Consider the risks and rewards very carefully before you decide to invest.

Cryptocurrency Regulations and Legal Considerations

The cryptocurrency field is always changing. Across the globe, authorities are making legal frameworks for digital currency use. They’re setting rules on taxes, stopping illegal money movement (AML), and laws on investments. It’s important for users and companies in the cryptocurrency space to follow these rules. They help avoid legal issues and be responsible in the cryptocurrency world.

The U.S. federal government has many units looking at cryptocurrencies. This includes the SEC, CFTC, FTC, and agencies like the IRS. They ensure cryptocurrency users and businesses follow the correct regulations.

States are also stepping in with their own rules. They’re asking blockchain companies to get money moving licenses. They also must meet their area’s investment laws. For example, Nevada wants a government-backed digital coin, like what Wyoming has started.

The Biden team is focusing on making digital assets safer and more stable. They worry about cyber security and how digital money could help or hurt consumers. They’re asking experts to plan for the future, including looking at a possible US digital currency.

The White House also wants better control over digital money. They’re giving more power to groups like the SEC and CFTC. The goal is to stop cyber attacks and keep the financial system safe.

In the U.S., the law sees cryptocurrencies as assets. This means when someone makes money from them, they need to pay capital tax gains. But, the U.S. doesn’t have a full plan to protect data for everyone yet. Data safety laws depend on which business is using the data.

Around the world, countries are doing different things with cryptocurrencies. The European Union made rules to catch and stop bad uses of digital money. Japan treats cryptocurrencies as regular assets for tax reasons. Australia wants people making money from digital coins to pay taxes on it. They also need to follow laws to stop bad money actions. Singapore checks and approves certain digital coins to keep things safe there.

The world of cryptocurrencies is always changing. It’s very important to follow the rules, whether you’re an individual or a business. This way, you can avoid problems and be a good part of the cryptocurrency community.

The Future of Cryptocurrency

Cryptocurrency and blockchain are set to change many fields and how money works worldwide. These new technologies could shake up the old financial systems. They might make decentralized finance (DeFi) common and introduce new ways to use money in every industry.

Crypto and blockchain make transactions quicker, cost less, and are safer. They also allow for apps and agreements to run without a central authority. This has caught the interest of both the public and private communities. If this tech keeps growing, it could deeply influence the future of our money and how we handle finance.

By 2030, the global cryptocurrency market could grow to nearly $5 billion, say experts. More people are using digital money, with half of internet users already owning some. In the U.S., almost half of those over 35 plan to invest in crypto soon. So, there’s a big interest in these new financial options.

But, as cryptocurrency becomes more popular, governments are looking closer. While most people want some rules about crypto, there are worries. People are afraid rules could lead to less freedom and privacy. However, others think rules could make crypto safer and more widely accepted.

Blockchain isn’t just for crypto. It has a bigger role in recording transactions safely and transparently. This can help in many areas like checking where products come from, making sure someone is who they say they are, and using smart contracts.

There are still some issues to solve with blockchain and crypto, like how to make them work for more people without losing security. One big worry is that too few people holding a lot of Bitcoin could go against the idea of decentralization. This is something experts are keeping an eye on.

The future of cryptocurrency is exciting, but there are also challenges. However, the chance to make big changes in how we do things is real. As these technologies keep growing, it’s important for everyone to work together. This way, we can make a future that’s both innovative and safe.

Cryptocurrency and Decentralized Finance (DeFi)

Cryptocurrencies and blockchain technology have brought about a fast-growing field. This field is called decentralized finance (DeFi). DeFi is a group of financial apps and services running on decentralized, blockchain platforms. They get rid of the need for banks, brokerages, and exchanges.

Key DeFi apps are lending, decentralized exchanges, and stablecoins. They use blockchain’s transparency, safety, and flexibility. DeFi can make finance open to all, offer new ways of trading between people, and handle assets.

Only 0.56% of global financial wealth is in cryptocurrency and DeFi right now. Even so, DeFi is growing fast. Every day, millions of dollars move through DeFi, like in DeFi gaming apps such as ZKasino and others.

DeFi has stars like Uniswap and PancakeSwap, very popular among users. They do a lot of transactions. In DeFi, you can borrow, farm for yields, or take flash loans without any security needed.

Aave is a top DeFi player. Users can earn interest by staking their crypto. It’s very popular for earning passive money in DeFi.

DeFi brings new and exciting ways to handle money. But it’s still risky. There are concerns about rules, safety, and the chance of crimes happening across borders. We need to find ways to keep up with DeFi’s rapid growth.

As we use more and create more decentralized finance and cryptocurrency apps, we can see big changes ahead. These changes can offer new openings but also bring new hurdles for the financial system.

“Decentralized finance has the potential to revolutionize the financial industry, but it also poses unique regulatory challenges that need to be addressed to ensure the stability and integrity of the financial system.”
– Gary Gorton, Professor of Finance at Yale School of Management and Co-Founder of TNB USA Inc.

Advantages and Disadvantages of Cryptocurrencies

Cryptocurrencies are digital currencies that work without central banks. They have been growing in use. These new financial tools have good and bad points, unlike usual money systems.

Cryptocurrency Benefits

• Faster transaction times make it easier to buy and sell things instantly.
• Lower fees save money because costs are tiny or none at all.
• Greater accessibility means it’s easier and faster to start using.
• Enhanced security keeps transactions safe from hacking.
• Portfolio diversification is possible, making investments more varied.
• Immune to government control, it’s free from central authority rules.
• Scarcity means a limited number of Bitcoins can protect against inflation.

Cryptocurrency Drawbacks

1. Price volatility can make investments risky.
2. Regulatory uncertainty means laws and tax rules are still changing.
3. Cybersecurity risks come from exchange hacks and online scammers.
4. Environmental concerns are about the high energy use for mining.
5. Limited use in daily life despite many kinds available.
6. Illicit activities are a worry because of the hidden nature of transactions.
7. Risk of losing investment or access from changes or wallet problems.

Cryptocurrencies have their pros and cons. It’s vital to look at both before diving in. As this new market grows, knowing the latest risks and trends is key for smart investing.

Cryptocurrency Security and Risks

The cryptocurrency market is growing fast. But, it’s important for people to know the dangers and risks. They might be safe because of new tech and decentralized systems. Yet, they can still face problems like hacking and losing keys.

Hacking and theft are major worries with cryptocurrencies. Cryptocurrency exchanges have suffered big hits, like Coincheck’s $550 million loss. Bitthumb lost about $30 million. These events show everyone needs to up their security game.

To keep your coins safe, use a hardware wallet. Ledger and Trezor are good examples. These gadgets keep your keys off the net. This alone makes them safer from hackers.

Cryptocurrencies’ independence and lack of rules have some worried. People fear they might be used for bad things, like money laundering. So, governments and companies are tightening up on security measures.

Cryptocurrency Security Risks	Mitigation Strategies
Hacking and theft of digital assets	Use a hardware wallet for secure storage
Loss of private keys	Implement robust backup and recovery processes
Potential use in illegal activities	Comply with regulatory frameworks and best practices
Lack of regulatory oversight	Demand stringent security measures from service providers

Being smart and informed is crucial for anyone dealing with cryptocurrencies. Follow the best safety tips and keep up with the latest in safety threats and fixes. This will help protect your investments and keep the cryptocurrency world honest.

“Cryptocurrency investments should be considered high-risk and allocated accordingly in investment portfolios.”

As people use cryptocurrencies more, they must focus on keeping their investments safe. This means always being on the lookout and using smart safety plans. Doing this helps make the cryptocurrency world a safer place.

Cryptocurrency Exchanges: Buying and Selling Digital Currencies

Cryptocurrency exchanges are like online marketplaces for buying, selling, and trading digital currencies. They enable people and businesses to deal in a wide variety of cryptocurrencies. This includes swapping digital coins for regular money, like U.S. dollars.

With so many exchanges out there, picking the right one is important. Each has its own set of features, fees, and how they keep your money safe. These are key things to think about if you’re getting into digital currency trading.

About 600 centralized exchanges are where most crypto trades happen. Besides the well-known Bitcoin and Ethereum, they let you trade many other coins. Top ones are ranked by measures like safety, costs, and how many different coins they handle.

Centralized exchanges are getting better at keeping your money and information safe. To guard against hacks, many of them insure your investment. On the other hand, decentralized exchanges don’t keep your money in one place. They work across computers owned by different people, which adds security but might be a bit harder to use.

Cryptocurrency Exchange	Transaction Fees	Number of Cryptocurrencies Supported	Minimum Deposit/Purchase	Trade Limits
Kraken	0.00% to 0.40%	Over 200	$1	Yes
Coinbase	0.00% to 0.60%	Over 5,500	$2	Yes
Crypto.com	0.00% to 0.075%	Over 350	1 euro	Yes
Gemini	0.0% to 0.40% (active traders), 1.49% (regular platform)	Over 80	Varies	Yes
CEX.IO	Varies	Over 100	Varies	Varies

Each exchange offers different options and services. It’s important for investors and traders to compare. Look for things that match what you need and how you plan to use the exchange when buying and selling crypto.

“Cryptocurrency exchanges serve as the entry and exit points for the digital currency market, connecting buyers and sellers in a secure and transparent environment.”

Conclusion

Cryptocurrency has changed the game in digital finance. It’s challenging how we see money and offering new ways in financial technology. This guide dug deep into the basics of cryptocurrency overview. We talked about its operation, major coins, blockchain tech, mining, and the rules and risks.

The more people use and develop crypto, the more its power to transform the world of money grows. Though it’s a wild space with risks, the dream of a safer, fairer money world drives many. The future of finance looks to be in the hands of cryptocurrency and blockchain.

Now, rules are changing and more people are starting to use it. This means digital finance and financial technology will keep changing too, with crypto at the heart of it. The future’s financial picture might look a lot different than what we’re used to.

FAQ

What is cryptocurrency?

Cryptocurrency is digital money that doesn’t need banks or governments to work. It uses advanced technology for safe and open transactions.

How does cryptocurrency work?

Cryptocurrency relies on blockchains, a digital ledger. It’s secure due to its use of complex math and requires a network to confirm transactions. This process is called mining.

What are the most popular cryptocurrencies?

The most well-known cryptocurrencies are Bitcoin, Ethereum, and others like Binance Coin. Each has its own benefits and uses.

Why has cryptocurrency gained popularity?

Cryptocurrency became popular for its quicker transfers and lower fees. It also offers decentralization from banks and governments.

What is the role of blockchain in cryptocurrency?

Blockchain ensures cryptocurrency works without a central authority. It’s key for its secure and transparent nature.

How does cryptocurrency mining work?

Mining creates new cryptocurrency and checks transactions. Miners receive rewards for their work, helping to maintain the blockchain.

How do cryptocurrency wallets work?

Cryptocurrency wallets let users save, send, and get their digital money safely. They use special codes to access the funds.

What are the risks and challenges of investing in cryptocurrencies?

The market’s rapid changes can lead to big wins or losses. Those interested should research the risks involved.

How are cryptocurrencies regulated?

Authorities worldwide work on rules for digital finances. This includes taxes, preventing fraud, and following investment laws.

What is the future of cryptocurrency and blockchain technology?

These technologies could significantly change industries and finance globally. They might create new ways of doing finance while challenging old systems.

What is decentralized finance (DeFi) and how does it relate to cryptocurrency?

DeFi uses the blockchain for financial services without a central control. It’s tied to cryptocurrency and offers creative finance solutions.

What are the advantages and disadvantages of cryptocurrencies?

Cryptocurrencies are known for quick transactions, low fees, and ease of access. Yet, they also carry risks like unstable prices, use in everyday life, and concerns about their impact on the environment.

How can users ensure the security of their cryptocurrencies?

To keep digital money safe, users should protect their private keys and digital wallets. It’s also important to be aware of online risks and how to protect against them.

What are cryptocurrency exchanges, and how do they work?

Cryptocurrency exchanges are like online stock markets. They let users buy, sell, and exchange digital money, creating a key link in the crypto world.