Before You Buy Cryptocurrency, Understand What You are Investing in
Cryptocurrency (“crypto”) is digital money based on blockchain technology—a decentralized, distributed digital ledger. Therefore, at its core, crypto is a decentralized digital medium of exchange that is designed to be used over the internet.
Unlike other currencies such as the Canadian dollar, no central authority (such as a government or bank) manages and maintains the value of a cryptocurrency. Its value is driven entirely by supply and demand.
Before you buy crypto, understand what you are investing in. What can you buy with crypto, and should you invest in it?