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What Does Crypto Mean? Cryptocurrency, often abbreviated as "crypto", is a type of decentralized Cryptocurrency that is based on cryptography. If you want to understand cryptocurrency for beginners, these three principles - decentralization, Crypto, and cryptocurrency - are essential.
Decentralization means that currency is not issued by a central authority such as a government or a bank. Instead, the currency is owned, traded, and governed by those who use it on a decentralized exchange.
It is Crypto, which means that the crypto is not based on dollars, coins, or gold. Instead, the currency is generated through a mathematical process carried out by a network of computers. This same network is then used to process and exchange currencies around the world.
