Is crypto the same as bitcoin?

No. Bitcoin is one cryptocurrency, the first and the best known. "Crypto" is the umbrella term for every digital asset of this type, and there are thousands of them. Every bitcoin is crypto, but most crypto is not bitcoin.

Crypto, bitcoin and blockchain: what is the difference?

The three words describe different layers of the same thing.

• Blockchain is the technology. It is a shared record of transactions that many computers keep in step, with no central keeper. See what a blockchain is.
• Cryptocurrency is the asset. It is a digital coin or token whose ownership is tracked on a blockchain.
• Bitcoin is one specific cryptocurrency, and also the name of the network it runs on.

Bitcoin was described in a paper published on October 31, 2008, under the name Satoshi Nakamoto, and its network started in January 2009. The guide to what bitcoin is covers how it works.

What else is there besides bitcoin?

Every cryptocurrency other than bitcoin is known as an altcoin, short for alternative coin. The main groups are:

• Ether, the coin of Ethereum, a network launched in 2015 that can run programs as well as payments.
• Stablecoins, tokens designed to stay worth one US dollar or another currency.
• Meme coins, such as Dogecoin, which trade on jokes and online communities.
• Tokens issued by apps and projects on top of an existing network. The guide to coins and tokens explains the distinction.

How do other cryptocurrencies differ from bitcoin?

Purpose. Bitcoin was built to be money. Many other networks were built to run applications, and their coins pay for that activity.

Supply. Bitcoin's code caps the supply at 21 million coins. Many other assets have no cap, or have a supply that a founding team can change.

Security. Bitcoin is secured by mining, known as proof of work. Most newer networks use proof of stake, in which operators lock up coins instead of spending electricity. The guide to proof of work and proof of stake compares them.

Who is behind it. Bitcoin has no company, and its creator is unknown and long gone. Many newer tokens are launched by identifiable teams or companies that keep a large share of the supply.

Why do people mix them up?

Bitcoin came first, it dominates news coverage, and its price moves tend to pull the rest of the market with it. For years the two words were close to interchangeable.

The difference matters because the risks are not the same. A headline about "crypto" may concern a small token with a few insiders and say little about bitcoin. Laws and regulators also draw lines between types of asset, so a rule that applies to one may not apply to another.