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. Digital currencies are a type of currency available only in digital form, not in physical form. A digital currency can be used to purchase goods and services, but it can also be held as an investment. Digital currencies are decentralized, like cryptocurrencies, but they are not backed by cryptography. The best-known digital currency is probably Bitcoin, but there are many others, such as Litecoin, Ethereum, and Ripple.
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