A detailed guide to how cryptocurrency works

Source: Dalvin Brown, Washington Post (Paid Registration)

Cryptocurrencies such as bitcoin, dogecoin and ethereum have risen in popularity in recent years, introducing a host of new terminology and concepts to the public that can be tough to visualize and troubling to understand. 

In its simplest form, a cryptocurrency is a computer code generated by publicly available software that allows people to store and send value online. To access your personal cryptocurrencies, you need a private key or complicated password that’s generated by code when you create a wallet.

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