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  what is crypto currency What is cryptocurrency? The definition for cryptocurrency has evolved over the last couple years as it began to find its way into everyday use. In order to be able to understand how cryptocurrency works, you must first understand some basic concepts regarding money, commerce, identity, and other key aspects of our society. Bitcoin, Litecoin, Ethereum, or any one of them would all fall under the definition of cryptocurrencies. When we talk about bitcoin and digital currencies, they are often used interchangeably but actually very different entities. Bitcoin is a type of electronic cash that allows transactions to be made without a bank account or paper document, in addition, it uses no central authority, so people do not have to worry about the process happening at their bank. While being electronic means the coins can be sent instantly between two addresses at any time, this isn’t true for most physical cash. Another difference in bitcoin is that it doesn’t co