Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Bitcoin, for example, can be used to buy merchandise and has been accepted as payment by some retailers. Ethereum, another popular cryptocurrency, is used to develop decentralized applications and smart contracts. Cryptocurrencies have been subject to volatility and speculation, making them a risky investment. However, some people believe that cryptocurrencies will eventually become more stable and increase in value.
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