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Bitcoin and Cryptocurrencies Explained in One MinuteA cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant. Bitcoin and hundreds of other cryptocurrencies are increasingly held as investments and used as currencies to buy a swath of goods and services, such as. Cryptocurrency (also known as crypto) is a digital currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions.