Frequently asked questions

Cryptocurrency is a form of digital money that typically uses cryptography and a distributed ledger, most commonly a blockchain, to record and verify transactions without relying on a single central authority such as a bank.

A blockchain is a type of distributed digital ledger that records transactions in a series of linked "blocks." Copies of the ledger are maintained across a network of computers, which is designed to make the historical record difficult to alter.

Bitcoin is the first widely adopted cryptocurrency, launched in 2009. It is a decentralized digital currency designed to allow peer-to-peer value transfer without a central bank or intermediary.

Ethereum is a decentralized blockchain platform that supports smart contracts, self-executing code that can power decentralized applications, in addition to transferring its native asset, ETH.

A stablecoin is a type of cryptocurrency designed to track the value of another asset, most often a fiat currency like the U.S. dollar, in an effort to reduce the price volatility common to many other cryptocurrencies. Stablecoins are not risk-free and are not guaranteed to maintain their peg.

A cryptocurrency wallet is software or hardware that lets you store, manage, and use the private keys needed to access and send your cryptocurrency. A wallet does not typically "hold" coins itself; it manages the keys that prove ownership on the blockchain.

A private key is a secret piece of cryptographic data that proves ownership of a cryptocurrency address and authorizes transactions from it. Anyone with access to a private key can control the associated funds, so keeping it secure is critical.

A public address is the identifier you can safely share with others so they can send cryptocurrency to you. It is derived from a public key, which is mathematically linked to, but does not reveal, your private key.

A transaction fee is a small amount paid to the network (often to miners or validators) to have a transaction processed and confirmed. Fees can vary depending on network demand and congestion.

A smart contract is code deployed on a blockchain that automatically executes predefined actions when certain conditions are met, without requiring a central intermediary to enforce the agreement.

Common risks include price volatility, irreversible transactions, loss of access to private keys, smart contract vulnerabilities, evolving regulation, and the general possibility of losing some or all invested value.

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