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Cryptocurrency is a type of digital or virtual money that controls the creation of new units while using encryption techniques to safeguard and verify transactions.
The first cryptocurrency, Bitcoin, was developed in 2009 under the pseudonym Satoshi Nakamoto by an unidentified person or group of individuals.
Cryptocurrencies are decentralised and give people more power over their money because they operate independently of central banks and governments.
Cryptocurrency transactions are tracked on a blockchain, a public database that guarantees transparency and immutability.