Bitcoin (BTC), which was released in January of 2009. In essence, Bitcoin was the inspiration for the rapid growth of the cryptocurrency ecosystem. By November 2021, the total value of all cryptocurrencies in existence had reached over $2.1 trillion.</p>\n<p>Some similar decentralized <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">
proof-of-work coins - are <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/bitcoin-cash/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Bitcoin Cash</strong></a>, Litecoin, and Monero. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">
Proof-of-stake coins - Tron, Dash, Tezos. Other coins are associated with private blockchains administered by firms for internal purposes and are unavailable to the general public.</p>\n<p>However, all of these are similar by having the operations of their networks secured by <strong>cryptographic algorithms.</strong></p>\n<p>The main idea behind the creation of Bitcoin was the employment of a distributed ledger - a blockchain of all the possible transactions that have ever happened. </p>\n<p>The Bitcoin network is comprised of several independent nodes, all of which opt to join willingly. The usage of blockchain allows the Bitcoin network to function successfully without the need for a central authority, such as a bank, to implement the regulations.</p>\n<p>The blockchain of Bitcoin is controlled and modified through the use of a proof-of-work consensus process founded on cryptographic hash functions. 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Investing","slug":"trading-and-investing","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-trading.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-trading-101.jpg","rating":80,"sections":[{"slug":"where-to-trade-crypto","title":"Where Can You Trade Cryptocurrencies?","featured_image_id":10342,"status":"published","chapter_id":7,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/where-to-trade-crypto","featured_image":{"id":10342,"uuid":"0bd8d78a-9423-48ee-9161-34dc1872b97c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","path":"crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","original_path":"crypto/storage/original/where-to-trade-crypto-featured-image.jpg","name":"where-to-trade-crypto-featured-image.jpg","original_name":"where-to-trade-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"85.96KB"},"youtube_video":null},{"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":null,"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":217,"original_id":null,"author_id":40,"translator_id":null,"title":"What are Cryptocurrency Pairs?","slug":"what-are-cryptocurrency-pairs","section":"C","keyword":"Cryptocurrency Pairs","status":"published","definition":"Cryptocurrency pairings are assets that can be swapped for each other on an exchange.","content":"<p><strong>Cryptocurrency pairings are assets that may be traded in an exchange for one another.</strong> The most well-known cryptocurrency pair with regular price comparisons is ETH/BTC. To put things in perspective, trade pairings indicate how much of one token you can buy with a certain quantity of another token.</p>\n<p>It is critical for investors to understand trading pairs in order to diversify their cryptocurrency holdings beyond the most popular currencies. It creates the possibility of <strong>profiting from discrepancies in asset values between marketplaces.</strong></p>\n<p>To be more specific, investors can make wise decisions based on their understanding of trading pairs. Users may need to discover an exchange that handles the specific trading pair in order to properly swap one cryptocurrency token for another. In a different case, many transactions involving distinct pairings may be required to get the desired outcome.</p>\n<p>In regards to that, trading pairs showcase the availability of different trading options on a given exchange. For instance, if a trader wants to exchange BTC to ETH, but he is holding <strong>XRP</strong> he would first need to trade XRP/BTC to get some Bitcoin, and then he could perform the ETH/BTC trade to trade his Bitcoin to Ethereum.</p>\n<p>Because the user conducts two distinct transactions, he may be required to pay <strong>additional taxes and fees.</strong></p>\n<p>Crypto trading pairs assist in clearing each token’s value, similarly to traditional currency trading. Back when cryptocurrencies were first revealed to the public as a new approach to finance, there were not a lot of trading pairs available.</p>\n<p>Most of the trades were dependent on <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">
Bitcoin. However, nowadays, new trading pairs appear by the hour.</p>\n<p>Cryptocurrency trading pairs are a very important part of the crypto industry. <strong>They enable the possibility to exchange one token for another in a quite easy manner.</strong> Furthermore, crypto exchanges are coming to realize the need of providing as many crypto pairings as possible in order to suit the demands of traders.</p>\n<p>Likewise, some particular crypto trading pairs might provide better trading conditions in terms of fees and taxes.</p>\n<p>Despite the fact that unpopular trading pairs amongst cryptocurrencies often have lower trading taxes, the most popular crypto trading pairs have shown to be a better value. Nonetheless, correlations between various cryptocurrencies may lead to more successful trading pairings for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-altcoin/">
altcoins on occasions.</p>\n<p>As a result, traders must conduct thorough research on the costs connected with each trading pair of relevance. Besides, trading cryptocurrencies differs from trading traditional assets such as <strong>stocks or commodities.</strong></p>","level":"medium","meta_title":"What are Cryptocurrency Pairs? Definition & Meaning | Crypto Wiki","meta_description":"Cryptocurrency Pairs meaning: Cryptocurrency Pairs - Cryptocurrency pairings are assets that can be swapped for each other on an exchange.","meta_keywords":null,"language":"en","created_at":"2022-02-28T13:59:58.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-are-cryptocurrency-pairs"},"prevSection":{"id":215,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Cryptocurrency Money Laundering?","slug":"what-is-cryptocurrency-money-laundering","section":"C","keyword":"Cryptocurrency Money Laundering","status":"published","definition":"the criminal activity of transferring fiat to cryptocurrency and routing it via multiple pathways.","content":"<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-money-laundering/">
Money laundering</strong></strong></a> is a financial crime defined as the process of taking a large amount of money that was acquired illegally, often by drug or human trafficking, and attempting to make it seem like it came from a legitimate source.</p>\n<p>Cryptocurrency money laundering crimes are committed with similar intent. However, during the process, criminals take <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money</strong></a> and convert it into cryptocurrency. They then route the cryptocurrency through several pathways to hide the trail and attempt to make its origins appear legitimate. </p>\n<p>Cryptocurrency is often the subject of potential money laundering crimes, largely due to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralized nature of blockchain financial operations and the anonymity often linked to crypto. Governmental and financial institutions take the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-volatility/">volatility of the crypto market into consideration when discussing possible money laundering threats.</p>\n<p>However, Bitcoin transactions can be traceable through the blockchain and are tied to specific cryptocurrency <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-address/">wallet addresses</strong></a>.</p>\n<p>In 2021, hacker group DarkSide attempted to ransom the American oil pipeline system Colonial Pipeline. The FBI traced the transactions on the blockchain back to a wallet containing 63 Bitcoins (BTC) and proceeded to extract the coin with the wallet’s <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-key-secret-key/">private key</strong></a>. This case emphasized the traceability of financial operations on the blockchain.</p>\n<h2>Money Laundering via Bitcoin</h2>\n<p>In the early days of blockchain-based digital currency, Bitcoin was used with criminal intent, including money laundering, by some malicious parties. One of the most notable cases was Silk Road, the darknet market used to purchase illegal goods, the majority of which were drugs.</p>\n<p>While the platform was shut down, the US government seized more than $1 billion worth of Bitcoin from the Silk Road network in 2020. The operation was described as “the biggest cryptocurrency seizure in history”.</p>\n<p>Cases of crypto money laundering led to many countries establishing <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-anti-money-laundering-aml/">anti-money laundering laws (AMLs)</strong></a> directed at cryptocurrencies. Obligatory compliance measures, such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-know-your-customer-kyc/">Know Your Customer (KYC)</strong></strong></a>, have been implemented to promote transparency and prevent illicit operations.</p>\n<p>Such regulations have been applied to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">crypto exchange</strong></a> platforms, as these virtual spaces are the main areas to purchase cryptocurrencies. The data provided by crypto exchange platforms like Coinbase can track suspicious transactions.</p>\n<p>There have been criminal attempts to utilize Bitcoin to hide the tracks of illicit money by shuffling around funds. After converting fiat money into crypto, they swap and exchange between different cryptocurrencies several times. The process of swapping and exchanging was meant to make the funds harder to spot and follow along the chain.</p>\n<p>At the end of the procedure, the crypto funds would be traded back into fiat currency. The money would then appear as legitimate funds acquired via crypto trading.</p>\n<p>According to the United Nations, around $1.3 trillion is laundered yearly. This amount accounts for roughly 3% of global gross domestic product (GDP). It can be difficult to track and establish what share of global money laundering is made up of cryptocurrency-based crime. However, it is assumed to be a considerably small amount in comparison.</p>\n<h2>Privacy Coins</h2>\n<p>As of February 2022, there are around 10,000 cryptocurrencies in the world. Given this amount, some may be easier to utilize for money laundering than others. New cryptocurrencies have been developed to be more resistant to tracking and easier to utilize in criminal activities.</p>\n<p>Roughly 90% of money laundering and other illicit criminal behavior on the darknet is done by bouncing assets between Bitcoin addresses, making it the most prominent option for cybercrime.</p>\n<p>To counter the traceability of Bitcoin, <strong>privacy coins</strong> have been developed. Privacy coins are cryptocurrency assets that aim to provide a higher level of anonymity, security, and privacy. They are considerably more difficult to regulate. Monero, Zcash, and Grin are among the most popular privacy coins.</p>\n<h3>Monero</h3>\n<p>Monero is described as a secure, private, and untraceable cryptocurrency. Its standout feature is the anonymity provided to the users – observers are not able to decipher Monero addresses and the information they contain, such as transaction amounts, balances, or histories.</p>\n<p>Monero is considered to be one of the best-known examples of privacy coins. It is listed for trading on most major cryptocurrency exchange platforms. It has the third-largest developer community in the crypto world, falling behind only Bitcoin and Ethereum.</p>\n<h3>Zcash</h3>\n<p>Zcash is a cryptocurrency based on Bitcoin’s codebase. It provides an inauditable platform for private transactions using <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-zero-knowledge-proof/">zero-knowledge proof (ZKP)</strong></strong></a> verifications. Thanks to ZKP, no information about the exchange parties or the transaction amount can be revealed.</p>\n<p>Much like Bitcoin, Zcash has a fixed total supply, capped at 21 million units. Unlike some other privacy coins, Zcash offers selective disclosure, allowing users to prove payments for auditing purposes and comply with anti-money laundering or tax regulations.</p>\n<h3>Grin</h3>\n<p>Grin offers its users an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-open-source/">open-source network with a range of privacy tools that can be used to erase all past transaction data from the blockchain without compromising the network security.</p>\n<p>Grin’s Mimblewimble protocol helps create more compact <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">blocks and ensures that the blockchain only contains the essential information, thus reducing the amount of computational resources required. Minblewimble blockchain does not contain identifiable or reusable addresses, and transaction data can only be seen by its participants.</p>\n<h2>Cryptocurrency Regulations</h2>\n<p>While Bitcoin was established in 2009, there are no globally unified cryptocurrency regulations as of yet. Many nations are working on laws and regulations, as well as developing new classification systems for cryptocurrencies.</p>\n<p>The focus of many regulations is the <strong>taxation of assets</strong> coming from trading Bitcoin or other crypto assets. Due to the decentralization of digital currencies, they are often the subject of criticism in conversations about tax evasion.</p>\n<p>With the increasing popularity of cryptocurrencies, taxation entities such as the IRS and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-securities-and-exchange-commission-sec/">SEC are working on establishing new tax regulations on crypto assets and crypto-denominated salaries.</p>\n<p>There are also regulations for crypto <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">mining and trading in the works, given their direct importance in the crypto market. Companies that opt to add Bitcoin or other cryptocurrencies to their balance sheets will be subject to regulations.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">Cryptocurrency exchange</strong></a> platforms are also in consideration for new regulations. They are expected to provide better protection against tax avoidance and financial misconduct.</p>\n<h3>Regulated Centralized Cryptocurrency Exchanges</h3>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cloud-mining/">Centralized cryptocurrency exchange platforms (CEXs)</strong></strong></a> are regulated. They comply with cryptocurrency laws within their jurisdiction and agree to formal regulatory oversights. The availability of centralized crypto exchanges may vary regionally, depending on the local laws and compliance.</p>\n<p>Some of the regulated exchanges that have been approved by the SEC in the US are Binance.US, Coinbase, Gemini, and Kraken. Regulated crypto exchanges tend to hold a higher reputation among lawmakers and receive the bigger part of the market share in the US.</p>\n<p>Centralized exchange platforms generally have the regulations they must follow established by the national government. As a way to assist in preventing illegal financial activities, centralized crypto exchanges must comply with anti-money laundering and Know Your Customer regulations.</p>\n<h3>Unregulated and Decentralized Cryptocurrency Exchanges</h3>\n<p>Some cryptocurrency exchange platforms do not require their users to follow regulations such as the KYC policies. However, these platforms may still be required to adhere to some governmental regulations. Bybit, Nominex, and Binance.com (<em>not to be confused with Binance.US</em>) do not require their users to submit information for KYC checks. </p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-exchange-dex/">Decentralized cryptocurrency exchange platforms (DEXs)</strong></a> are unregulated and do not possess a single centralized entity that may be held accountable for illicit activities. However, transaction information on these platforms may still be observed.</p>","level":"hard","meta_title":"What is Cryptocurrency Money Laundering? Definition & Meaning | Crypto Wiki","meta_description":"Cryptocurrency Money Laundering meaning: Cryptocurrency Money Laundering - the criminal activity of transferring fiat to cryptocurrency and routing it via multiple pathways.","meta_keywords":null,"language":"en","created_at":"2022-02-28T09:28:23.000000Z","updated_at":"2022-06-28T13:12:51.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-cryptocurrency-money-laundering"},"currentChapter":"C","currentSection":"what-is-cryptocurrency","chapterTitle":"C","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-cryptocurrency","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter C
What is Cryptocurrency?
Cryptocurrency MEANING:
Cryptocurrency -
Cryptocurrencies are digital or virtual currencies.
Let's find out Cryptocurrency meaning, definition in crypto,
what is Cryptocurrency,
and all other detailed facts.
Cryptocurrencies are utilized in cryptographic technologies. The majority of digital currencies are decentralized networks that are based on a distributed ledger or blockchain technology. Therefore, they are not produced by any central force.
Cryptocurrencies can be bought from cryptocurrency exchanges and can be mined as well.
In approximately 1983, the principle of a digital currency secured by cryptography first started existing. This was when David Chaum, an American cryptographer, revealed ecash to the public.
Nevertheless, the very first cryptocurrency that gained the attention of the public was Bitcoin (BTC), which was released in January of 2009. In essence, Bitcoin was the inspiration for the rapid growth of the cryptocurrency ecosystem. By November 2021, the total value of all cryptocurrencies in existence had reached over $2.1 trillion.
Some similar decentralized proof-of-work coins - are Bitcoin Cash, Litecoin, and Monero. Proof-of-stake coins - Tron, Dash, Tezos. Other coins are associated with private blockchains administered by firms for internal purposes and are unavailable to the general public.
However, all of these are similar by having the operations of their networks secured by cryptographic algorithms.
The main idea behind the creation of Bitcoin was the employment of a distributed ledger - a blockchain of all the possible transactions that have ever happened.
The Bitcoin network is comprised of several independent nodes, all of which opt to join willingly. The usage of blockchain allows the Bitcoin network to function successfully without the need for a central authority, such as a bank, to implement the regulations.
The blockchain of Bitcoin is controlled and modified through the use of a proof-of-work consensus process founded on cryptographic hash functions. The process assures that no new Bitcoin can be produced without significant effort and that all BTC transactions are precisely and eternally recorded.
