The value of cryptocurrencies is the underlying technology called “blockchain”. Blockchain technology allows people who don’t know each other or have any connections whatsoever to still be able to trust each other’s transactions. For more info on blockchain technology check out this post.
Not only do we not have to trust the people that we transact with but we also don’t have to trust a central bank. Cryptocurrencies are (usually) open source which means that anyone can look at the code for themselves. This means that you can know exactly how the cryptocurrency is supposed to work without trusting a company, government, or anyone.
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