Crypto, explained
138 plain-English guides to cryptocurrency and blockchain, grouped into 13 topics. Pick a topic, start with the basics, or search for a question.
- Crypto basicsWhat is cryptocurrency?Cryptocurrency is digital money recorded on a shared public ledger called a blockchain, with no bank or government keeping the accounts.2 min read
- Crypto basicsHow does cryptocurrency work?A cryptocurrency payment is a signed message that thousands of computers check and add to a shared ledger. No bank approves it.2 min read
- Crypto basicsWhat is cryptocurrency used for?Cryptocurrency is used mainly for trading and investment, and also for cross-border transfers, digital dollars and financial apps.2 min read
- Crypto basicsWhat is cryptocurrency backed by, and why does it have value?Most cryptocurrencies are backed by nothing. Their value comes from limited supply, usefulness and what buyers are willing to pay.2 min read
- Crypto basicsIs crypto the same as bitcoin?No. Bitcoin is one cryptocurrency, the first and best known. Crypto is the name for the whole category, which includes thousands of others.2 min read
- Crypto basicsWho controls cryptocurrency?No single person or company controls bitcoin. Power is split among developers, miners, node operators and holders. Some tokens are run by a company.2 min read
- Crypto basicsIs cryptocurrency real money?Cryptocurrency does some of the jobs of money, but most governments treat it in law as property or an asset and not as currency.2 min read
- Crypto basicsCrypto vs stocks: what is the difference?A stock is a share of a company with a claim on its profits. Most crypto tokens carry no such claim and trade under looser, newer rules.2 min read
- Crypto basicsA short history of cryptocurrencyCryptocurrency began with the bitcoin white paper in 2008 and grew through booms and collapses into a regulated market held by large funds.2 min read
- Crypto basicsHow is a new cryptocurrency created?A new cryptocurrency is made by launching a new blockchain or, far more often, by issuing a token on an existing one. Giving it value is harder.2 min read
- Crypto basicsCan cryptocurrency be traced?Yes. Most cryptocurrencies record every transaction on a public ledger. Addresses carry no names, but they can often be linked to people.2 min read
- Crypto basicsCrypto glossary: 40 terms in plain EnglishForty common crypto terms, from altcoin to whale, each defined in one plain sentence and grouped by topic, with links to fuller guides.3 min read
- How blockchains workWhat is a blockchain?A blockchain is a shared digital record of transactions, stored in linked blocks on many computers, with no single company or bank in charge.2 min read
- How blockchains workHow does a blockchain work, step by step?A blockchain takes a signed transaction, spreads it across a network of computers, checks it, packs it into a block and links that block to the chain.2 min read
- How blockchains workWhat is a ledger, and what does it do?A ledger is a record of who owns what. In crypto, the ledger is shared by thousands of computers instead of being kept by one bank.2 min read
- How blockchains workWhat is a distributed ledger?A distributed ledger is a record of transactions copied across many computers that keep their copies in sync, with no single master copy.2 min read
- How blockchains workWhat is in a block?A block holds a batch of transactions plus a header with a timestamp, a fingerprint of the previous block and the data used to agree on it.2 min read
- How blockchains workWhat is a hash in blockchain?A hash is a fixed-length digital fingerprint of a piece of data. Blockchains use hashes to link blocks together and to make tampering obvious.2 min read
- How blockchains workWhat is a node?A node is a computer that runs a blockchain's software, keeps a copy of the ledger and checks that every transaction and block follows the rules.2 min read
- How blockchains workWhat is a consensus mechanism?A consensus mechanism is the set of rules that lets computers on a blockchain agree on one version of the ledger without a central authority.2 min read
- How blockchains workProof of work vs proof of stakeProof of work secures a blockchain with computing power and electricity. Proof of stake secures it with coins that participants lock up as a deposit.2 min read
- How blockchains workWhat is crypto mining and how does it work?Crypto mining is a competition among computers to add the next block to a blockchain. The winner earns new coins and fees, and the race secures the network.2 min read
- How blockchains workWhat is a validator?A validator is a participant in a proof-of-stake blockchain who locks up coins as a deposit, then checks transactions and helps add new blocks.2 min read
- How blockchains workWhat does decentralized mean in crypto?Decentralized means no single person, company or government controls the network. Records, rules and decisions are spread among many participants.2 min read
- How blockchains workHard fork vs soft forkA soft fork tightens a blockchain's rules while staying compatible with old software. A hard fork breaks compatibility and can split the chain in two.2 min read
- How blockchains workPublic vs private blockchainsA public blockchain is open for anyone to use and help run. A private blockchain is run by one organization or a group that decides who may take part.2 min read
- How blockchains workWhat is a 51% attack?A 51% attack is when one party controls most of a blockchain's mining power or staked coins and uses it to reverse or block recent transactions.2 min read
- How blockchains workWhat is a layer 2?A layer 2 is a network built on top of a blockchain that processes transactions off the main chain to make them faster and cheaper.2 min read
- How blockchains workWhat is blockchain used for besides crypto?Outside cryptocurrency, blockchains are used for payments and settlement, tokenized assets, supply chain tracking and digital identity, with mixed results.2 min read
- How blockchains workHow does cryptography secure cryptocurrency?Cryptography secures crypto with key pairs and digital signatures that prove who may spend coins, and with hashes that make records hard to alter.2 min read
- BitcoinWhat is bitcoin and how does it work?Bitcoin is a digital currency with no central bank. A public ledger kept by thousands of computers records every payment, and supply is capped.2 min read
- BitcoinWho created bitcoin?Bitcoin was created by Satoshi Nakamoto, a pseudonym for an unknown person or group who published the design in 2008 and vanished in 2011.2 min read
- BitcoinHow does bitcoin mining work?Bitcoin miners race to solve a puzzle with specialized computers. The winner adds a block of transactions and earns new bitcoin plus fees.2 min read
- BitcoinWhat is the bitcoin halving?The bitcoin halving cuts the reward paid to miners in half every 210,000 blocks, about every four years, slowing the creation of new coins.2 min read
- BitcoinWhy are there only 21 million bitcoin?Bitcoin's code releases new coins on a shrinking schedule that adds up to 21 million. The last one is expected to be mined around 2140.2 min read
- BitcoinWhy does bitcoin have value?Bitcoin has value because people will pay for something scarce, secure and widely traded. Critics say an asset with no income rests on belief alone.2 min read
- BitcoinWhat is a satoshi?A satoshi is the smallest unit of bitcoin. There are 100 million satoshis in one bitcoin, which lets people buy and send fractions of a coin.2 min read
- BitcoinWhat is the Lightning Network?The Lightning Network is a payment layer built on bitcoin. It moves small payments off the main blockchain so they settle in seconds for low fees.2 min read
- BitcoinBitcoin vs Ethereum: what is the difference?Bitcoin is designed as scarce digital money. Ethereum is a platform for running programs, with its own coin, ether, used to pay for them.2 min read
- BitcoinBitcoin vs Bitcoin CashBitcoin Cash split from bitcoin on August 1, 2017, in a dispute over block size. It uses larger blocks to fit more payments on its main chain.2 min read
- BitcoinWhat is a spot bitcoin ETF?A spot bitcoin ETF is a fund that holds actual bitcoin and trades on a stock exchange, giving investors price exposure without holding coins.2 min read
- BitcoinHow do bitcoin ATMs work?A bitcoin ATM is a kiosk that turns cash into crypto sent to a digital wallet. Fees are high, and US agencies say scammers rely on the machines.2 min read
- Ethereum and smart contractsWhat is Ethereum and what is it used for?Ethereum is a public blockchain that runs programs as well as recording payments. Its coin is ether, and thousands of apps and tokens are built on it.2 min read
- Ethereum and smart contractsWhat is a smart contract?A smart contract is a program stored on a blockchain that runs automatically when its conditions are met, with no company in the middle.2 min read
- Ethereum and smart contractsWhat are gas fees?Gas fees are the charges users pay to have a transaction processed on Ethereum and similar blockchains. They rise when the network is busy.2 min read
- Ethereum and smart contractsWhat is Ethereum staking?Ethereum staking means depositing ether to help run and secure the network. Stakers earn rewards in ether and can lose some of it for breaking rules.2 min read
- Ethereum and smart contractsWhat is a dapp?A dapp, or decentralized application, is an app whose core logic runs on a blockchain through smart contracts instead of on one company's servers.2 min read
- Ethereum and smart contractsWhat is a DAO in crypto?A DAO is an online group that pools money and makes decisions by token-holder vote, with its rules written into smart contracts on a blockchain.2 min read
- Ethereum and smart contractsWhat is a blockchain oracle?A blockchain oracle is a service that feeds outside information, such as market prices, to smart contracts that cannot look it up themselves.2 min read
- Ethereum and smart contractsWhat is Solana?Solana is a blockchain built to process many transactions quickly and cheaply. Its coin is SOL, and it has suffered several network outages.2 min read
- Coins and tokensCoin vs token: what is the difference?A coin is the built-in currency of its own blockchain. A token is an asset created on top of someone else's blockchain by a smart contract.2 min read
- Coins and tokensWhat is an altcoin?An altcoin is any cryptocurrency other than bitcoin. The word covers thousands of coins and tokens, from ether to stablecoins and meme coins.2 min read
- Coins and tokensWhat is a stablecoin and how does it work?A stablecoin is a crypto token built to hold a steady value, usually one US dollar, most often by keeping cash and government debt in reserve.2 min read
- Coins and tokensUSDT vs USDC: what are Tether and USD Coin?USDT (Tether) and USDC (USD Coin) are the two largest dollar stablecoins. They differ in who issues them, what backs them and how they are overseen.2 min read
- Coins and tokensWhat is a meme coin?A meme coin is a cryptocurrency built around a joke, image or online trend. Its price depends on attention and community, not on any product.2 min read
- Coins and tokensWhat is Dogecoin?Dogecoin is a cryptocurrency created in December 2013 as a joke. It runs on its own blockchain, has no supply cap and became the first meme coin.2 min read
- Coins and tokensWhat is XRP and what is it used for?XRP is the coin of the XRP Ledger, a payments blockchain launched in 2012. It is closely tied to the company Ripple, which fought a long SEC lawsuit.2 min read
- Coins and tokensWhat is a CBDC?A CBDC, or central bank digital currency, is a digital form of a country's official money issued by its central bank, not by a private company.2 min read
- Coins and tokensWhat is tokenization?Tokenization means recording ownership of an asset such as a stock, fund, bond or building as a token on a blockchain, so it can move like crypto.2 min read
- Coins and tokensWhat is tokenomics?Tokenomics is the economic design of a crypto token. It covers how many exist, how new ones are created, who holds them and what they are for.2 min read
- Coins and tokensWhat is an ICO?An ICO, or initial coin offering, is a fundraising in which a crypto project sells newly created tokens to the public, usually before it has a product.2 min read
- Coins and tokensWhat is a crypto airdrop?A crypto airdrop is a free distribution of tokens to many wallets, usually to reward early users of a project or to draw attention to a new one.2 min read
- Coins and tokensUtility tokens vs security tokensA utility token is meant to be used on a platform. A security token is an investment such as a share or bond. The law looks at substance, not the label.2 min read
- Coins and tokensWhat is a privacy coin?A privacy coin is a cryptocurrency built to hide who sent a payment, who received it and how much moved. Monero and Zcash are the best known.2 min read
- Wallets and keysWhat is a crypto wallet and how does it work?A crypto wallet is an app or device that stores the secret keys controlling your coins. The coins themselves stay on the blockchain.2 min read
- Wallets and keysHot wallet vs cold walletA hot wallet keeps its keys on an internet-connected device. A cold wallet keeps them offline, which is safer from hackers but slower to use.2 min read
- Wallets and keysWhat is a private key?A private key is a long secret number that proves ownership of crypto and authorizes spending. Anyone who learns it can take the funds.2 min read
- Wallets and keysWhat is a seed phrase?A seed phrase is a list of 12 or 24 words that backs up a crypto wallet. Anyone who has the words can take everything in it.2 min read
- Wallets and keysWhat is a wallet address?A wallet address is a string of letters and numbers that identifies where crypto is sent, much like a bank account number.2 min read
- Wallets and keysCustodial vs non-custodial walletsWith a custodial wallet a company holds the keys to your crypto. With a non-custodial wallet you hold them, along with all the responsibility.2 min read
- Wallets and keysWhat is a hardware wallet?A hardware wallet is a small device that keeps crypto private keys offline and signs transactions without exposing them to a computer.2 min read
- Wallets and keysCrypto exchange vs wallet: what is the difference?A crypto exchange is a business where you buy, sell and trade. A wallet is a tool that holds the keys to coins you already own.2 min read
- Wallets and keysHow do you send and receive crypto?To receive crypto you share your wallet address. To send it you enter the recipient's address, pick the network, pay a fee and confirm.2 min read
- Wallets and keysWhat happens if you lose your seed phrase or private key?In a self-custody wallet there is no reset button. If the seed phrase and the device are both gone, the coins can never be moved.2 min read
- Wallets and keysWhat is a multisig wallet?A multisig wallet needs approval from several separate keys before funds can move, so one stolen or lost key is not enough.2 min read
- Buying, selling and tradingHow do you buy cryptocurrency?Most people buy crypto through an exchange, a broker app, a fund or an ATM. The routes differ in cost, convenience and who ends up holding the coins.2 min read
- Buying, selling and tradingHow do you sell crypto and turn it into cash?Crypto can be converted to cash by selling it on an exchange and withdrawing to a bank. Fees, limits and tax rules apply along the way.2 min read
- Buying, selling and tradingWhat is a crypto exchange?A crypto exchange is a marketplace for buying, selling and swapping coins. Some are companies that hold your assets, others are software on a blockchain.2 min read
- Buying, selling and tradingWhat is KYC in crypto?KYC, or know your customer, is the identity check exchanges run before you can trade. Anti-money-laundering laws require it in most countries.2 min read
- Buying, selling and tradingWhat should a beginner know before investing in crypto?Crypto prices swing widely, losses can be total and most banking protections do not apply. These are the questions beginners tend to face first.2 min read
- Buying, selling and tradingWhat is crypto trading?Crypto trading is buying and selling coins to profit from price moves. Most of it is spot trading, and regulators warn that frequent traders often lose.2 min read
- Buying, selling and tradingWhat is market cap in crypto?Market cap is a coin's price multiplied by the number of coins in circulation. It measures the size of a cryptocurrency better than price alone.2 min read
- Buying, selling and tradingWhat are crypto futures and leverage?Futures are contracts for betting on a coin's price without owning it. Leverage adds borrowed money, which magnifies gains and losses alike.2 min read
- Buying, selling and tradingWhat is dollar-cost averaging?Dollar-cost averaging means buying a fixed dollar amount on a regular schedule, whatever the price. It spreads out timing risk but cannot prevent losses.2 min read
- Buying, selling and tradingHow do you read a crypto chart?A crypto chart shows price over time, usually as candlesticks. Each candle gives the open, close, high and low for one period of trading.2 min read
- Buying, selling and tradingWhat fees do you pay with crypto?Crypto users pay trading fees, spreads, network fees and charges to move money in and out. Different parties collect them, so the total is easy to miss.2 min read
- Buying, selling and tradingDoes crypto trade 24/7?Yes. Crypto trades around the clock, including weekends and holidays, because blockchains and exchanges never close. Banks and ETFs keep set hours.2 min read
- Buying, selling and tradingHow do you research a crypto project?Researching a crypto project means checking its white paper, team, token supply, code audits and real usage, and knowing the common warning signs.2 min read
- Prices and marketsWhy does crypto crash?Crypto falls sharply when buyers pull back and forced selling takes over. Common triggers are interest rates, leverage, regulation and failures.2 min read
- Prices and marketsWhy does crypto go up?Crypto prices rise when demand outpaces a limited supply. Cheap money, new ways to invest, popular stories and borrowed funds feed that demand.2 min read
- Prices and marketsBull market vs bear market in cryptoA bull market is a long stretch of rising prices and a bear market is a long stretch of falling ones. Crypto has swung sharply between them.2 min read
- Prices and marketsWhy is crypto so volatile?Crypto prices swing widely because markets are thin, coins have no earnings to anchor their value, and borrowed money magnifies every move.2 min read
- Prices and marketsWhat happens if a cryptocurrency goes to zero?A cryptocurrency can fall to zero, and many have. Holders keep their tokens but find no buyers. A coin held outright cannot go below zero.2 min read
- Prices and marketsWhat is a crypto whale?A crypto whale is a person or organization holding enough of a coin that their buying or selling can move its price.2 min read
- Prices and marketsWhat is altcoin season?Altcoin season is a period when most cryptocurrencies other than bitcoin rise faster than bitcoin does. It is easier to spot in hindsight.2 min read
- DeFi and earningWhat is DeFi?DeFi, short for decentralized finance, is lending, trading and saving run by software on a blockchain instead of by a bank or broker.2 min read
- DeFi and earningWhat is crypto staking?Staking means locking up coins to help run a proof-of-stake blockchain. In return, the network pays rewards, usually in the same coin.2 min read
- DeFi and earningWhat is yield farming?Yield farming is moving crypto between DeFi programs to collect the highest rewards, which come from fees, interest and newly issued tokens.2 min read
- DeFi and earningWhat is a liquidity pool?A liquidity pool is a pot of two tokens locked in a smart contract. Traders swap against it, and the people who fund it earn fees.2 min read
- DeFi and earningWhat is a decentralized exchange (DEX)?A decentralized exchange, or DEX, is software that lets people swap crypto tokens straight from their own wallets, with no company holding the funds.2 min read
- DeFi and earningHow do crypto lending and borrowing work?Crypto loans are backed by collateral worth more than the loan. If the collateral falls too far in value, it is sold automatically to repay the debt.2 min read
- DeFi and earningWhat is impermanent loss?Impermanent loss is the gap between what a liquidity provider ends up with and what they would have had by simply holding the two tokens.2 min read
- DeFi and earningWhat is a crypto bridge?A crypto bridge moves assets from one blockchain to another, usually by locking the original and issuing a stand-in token on the second chain.2 min read
- DeFi and earningDoes crypto pay interest or dividends?Coins such as bitcoin pay no interest or dividends. Any income comes from staking, lending or reward programs, and none of it is an insured deposit.2 min read
- NFTs and Web3What is an NFT?An NFT, or non-fungible token, is a unique entry on a blockchain that records who owns one specific item, most often a piece of digital art.2 min read
- NFTs and Web3How do NFTs work?An NFT is created by a smart contract that gives each token a unique ID, records its owner on a blockchain and links it to a description and image.2 min read
- NFTs and Web3What are NFTs used for?NFTs are used mainly for digital art and collectibles, and also for game items, tickets, memberships and records of real-world assets.2 min read
- NFTs and Web3What is Web3?Web3 is the idea of an internet built on blockchains, where users hold their own accounts, money and data instead of relying on big platforms.2 min read
- NFTs and Web3What is the metaverse, and what does it have to do with crypto?The metaverse is the idea of shared online 3D worlds where people meet, play and trade. Crypto projects sell land and items in some of them as tokens.2 min read
- Regulation and who is in chargeWho regulates crypto in the United States?No single agency regulates crypto in the US. The SEC, CFTC, Treasury, bank regulators, the IRS and the states each oversee a part of it.2 min read
- Regulation and who is in chargeWhat does the SEC do in crypto?The SEC polices US securities markets. In crypto it decides which tokens count as securities, oversees crypto funds and pursues investment fraud.2 min read
- Regulation and who is in chargeWhat does the CFTC do in crypto?The CFTC regulates futures and other derivatives. It treats bitcoin and ether as commodities and can pursue fraud in spot crypto markets.2 min read
- Regulation and who is in chargeIs crypto a security? The Howey test explainedSome crypto is a security and much is not. US law uses the 1946 Howey test, which asks whether buyers expect profit from the work of others.2 min read
- Regulation and who is in chargeWhat is the GENIUS Act?The GENIUS Act is the 2025 US law that sets federal rules for stablecoins, including who may issue them and what reserves must back them.2 min read
- Regulation and who is in chargeWhat is the CLARITY Act?The CLARITY Act is a US bill to split crypto oversight between the SEC and CFTC. It passed the House but failed a Senate vote in September 2026.2 min read
- Regulation and who is in chargeWhat is MiCA? The EU crypto rules explainedMiCA is the European Union's single rulebook for crypto. It licenses crypto companies and sets reserve and disclosure rules for stablecoins.2 min read
- Regulation and who is in chargeWho regulates crypto in the UK?The Financial Conduct Authority is the UK's main crypto regulator. A full authorization regime is due to begin on October 25, 2027.2 min read
- Regulation and who is in chargeIs cryptocurrency legal?Yes, in most countries. Owning and trading crypto is legal in the US, UK and EU under set rules, but some countries, including China, ban it.2 min read
- Regulation and who is in chargeCrypto and anti-money-laundering rules: FinCEN, KYC and the travel ruleCrypto businesses must follow anti-money-laundering law. They identify customers, report suspicious activity and pass on sender details with transfers.2 min read
- Regulation and who is in chargeCan banks hold crypto? The OCC and trust chartersYes. US national banks may hold crypto for customers, and the OCC has granted trust bank charters to crypto firms. A lawsuit now challenges that.2 min read
- Regulation and who is in chargeState crypto rules: money transmitter licenses and the BitLicenseMost US states require crypto businesses to hold a money transmitter license. New York and California have separate crypto-specific licenses.2 min read
- Regulation and who is in chargeHow crypto is regulated around the worldMost major economies now license crypto companies instead of banning them. The EU, UK, Japan, Singapore and others each take a different route.2 min read
- Scams and safetyIs cryptocurrency safe?The technology behind major cryptocurrencies has proved hard to break. Most losses come from price falls, failed platforms, mistakes and scams.2 min read
- Scams and safetyThe most common crypto scamsMost crypto scams follow a few patterns, such as fake investments, impersonators and bogus giveaways. All end with a payment that cannot be reversed.2 min read
- Scams and safetyWhat is a rug pull?A rug pull is when the people behind a crypto token or project take investors' money and abandon it, leaving the token close to worthless.2 min read
- Scams and safetyWhat is a pump and dump in crypto?A pump and dump is a scheme in which insiders hype a thinly traded token to drive up its price, then sell to the buyers they attracted.2 min read
- Scams and safetyCrypto phishing and wallet drainersCrypto phishing tricks people into giving up a seed phrase or approving a harmful transaction. A wallet drainer is the code that then empties the wallet.2 min read
- Scams and safetyWhat is a pig-butchering scam?A pig-butchering scam is a long con in which a stranger builds trust over weeks, then steers the victim into a fake crypto investment platform.2 min read
- Scams and safetyWhat happened to FTX?FTX, once among the largest crypto exchanges, collapsed in November 2022 after customer money was secretly moved to its sister trading firm.2 min read
- Scams and safetyIs crypto insured? FDIC, SIPC and what they do not coverNo. FDIC insurance covers bank deposits and SIPC covers securities at failed brokerages. Neither protects crypto held at an exchange or in a wallet.2 min read
- Scams and safetyWhat should you do if you are scammed in crypto?Stop sending money, save the evidence, tell the exchange or ATM operator and report it to the authorities. Recovery is hard, and speed matters.2 min read
- Scams and safetyHow does crypto get hacked?Most crypto hacks hit what is built around blockchains, such as exchanges, bridges, smart contracts and private keys, and not the blockchains themselves.2 min read
- Crypto and taxesHow is crypto taxed in the United States?The IRS treats crypto as property. Selling, swapping or spending it can create a capital gain, and crypto earned as pay or rewards is taxed as income.2 min read
- Crypto and taxesDo you pay tax on crypto if you do not sell?In the US, buying and holding crypto is not taxed. Swapping it, spending it or receiving it as a reward can be, even when no dollars change hands.2 min read
- Crypto and taxesCrypto tax forms: Form 8949, Schedule D and the 1099-DAForm 1099-DA is what a US crypto broker sends you and the IRS. Form 8949 lists each sale, and Schedule D adds up the gains and losses.2 min read
- Crypto and taxesCrypto losses and taxesIn the US, a loss on crypto you sell can offset capital gains and up to $3,000 of other income a year. A fall in price alone is not deductible.2 min read
- Crypto and taxesHow is crypto taxed in the UK?In the UK, most people pay Capital Gains Tax when they sell, swap, spend or give away crypto, and Income Tax on crypto received as pay or rewards.2 min read
- Crypto and taxesHow crypto is taxed around the worldMost countries tax crypto as property or an asset, not as money, but the rates and tests vary. India uses a flat rate and Germany a one-year rule.2 min read
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Eight guides for a first read
What is cryptocurrency?Cryptocurrency is digital money recorded on a shared public ledger called a blockchain, with no bank or government keeping the accounts.
What is a blockchain?A blockchain is a shared digital record of transactions, stored in linked blocks on many computers, with no single company or bank in charge.
What is a ledger, and what does it do?A ledger is a record of who owns what. In crypto, the ledger is shared by thousands of computers instead of being kept by one bank.
What is bitcoin and how does it work?Bitcoin is a digital currency with no central bank. A public ledger kept by thousands of computers records every payment, and supply is capped.
Who controls cryptocurrency?No single person or company controls bitcoin. Power is split among developers, miners, node operators and holders. Some tokens are run by a company.
What is a crypto wallet and how does it work?A crypto wallet is an app or device that stores the secret keys controlling your coins. The coins themselves stay on the blockchain.
What is a meme coin?A meme coin is a cryptocurrency built around a joke, image or online trend. Its price depends on attention and community, not on any product.
What is an NFT?An NFT, or non-fungible token, is a unique entry on a blockchain that records who owns one specific item, most often a piece of digital art.Browse by topic
13 topicsCrypto basics
Start here: what cryptocurrency is, how it works and who is in charge of it.
- What is cryptocurrency?
- How does cryptocurrency work?
- What is cryptocurrency used for?
- What is cryptocurrency backed by, and why does it have value?
How blockchains work
Ledgers, blocks, nodes, mining and the rules that keep a network honest.
- What is a blockchain?
- How does a blockchain work, step by step?
- What is a ledger, and what does it do?
- What is a distributed ledger?
Bitcoin
The first cryptocurrency: where it came from, how it is made and why people value it.
- What is bitcoin and how does it work?
- Who created bitcoin?
- How does bitcoin mining work?
- What is the bitcoin halving?
Ethereum and smart contracts
Programmable blockchains, the fees they charge and the apps built on them.
- What is Ethereum and what is it used for?
- What is a smart contract?
- What are gas fees?
- What is Ethereum staking?
Coins and tokens
Altcoins, stablecoins, meme coins and the other things people mean by "crypto".
- Coin vs token: what is the difference?
- What is an altcoin?
- What is a stablecoin and how does it work?
- USDT vs USDC: what are Tether and USD Coin?
Wallets and keys
How crypto is held, sent and lost, and what a seed phrase really is.
- What is a crypto wallet and how does it work?
- Hot wallet vs cold wallet
- What is a private key?
- What is a seed phrase?
Buying, selling and trading
Exchanges, fees, orders and what to understand before any money moves.
- How do you buy cryptocurrency?
- How do you sell crypto and turn it into cash?
- What is a crypto exchange?
- What is KYC in crypto?
Prices and markets
Why crypto prices move the way they do.
- Why does crypto crash?
- Why does crypto go up?
- Bull market vs bear market in crypto
- Why is crypto so volatile?
DeFi and earning
Staking, lending and trading without a company in the middle.
All 9 guidesNFTs and Web3
Digital ownership, what it is used for and what you actually get.
All 5 guides
Regulation and who is in charge
The agencies and laws that govern crypto in the United States and abroad.
- Who regulates crypto in the United States?
- What does the SEC do in crypto?
- What does the CFTC do in crypto?
- Is crypto a security? The Howey test explained
Scams and safety
How people lose money in crypto and how to recognize the patterns.
- Is cryptocurrency safe?
- The most common crypto scams
- What is a rug pull?
- What is a pump and dump in crypto?
Crypto and taxes
When crypto is taxed and what the tax authorities expect.
- How is crypto taxed in the United States?
- Do you pay tax on crypto if you do not sell?
- Crypto tax forms: Form 8949, Schedule D and the 1099-DA
- Crypto losses and taxes
The guides are written with AI assistance and their summaries are generated by AI. They explain how things work. They are not financial, legal or tax advice.