What is Crypto
Crypto is a computer-generated file designed to be a completely digital store of value that isn’t connected to anything tangible in the real world.
Short for cryptocurrency, many believe crypto could one day be as commonly used as cash and credit, but it isn’t widely accepted yet and currently can’t be used as a way to pay or send money on PayPal. Rather than paper bills, crypto is counted in digital units or “tokens” that can be purchased and sold in fractions.
It isn’t regulated
For the time being, cryptocurrencies aren’t regulated by governments or central authorities like federal regulatory agencies because they don’t belong to any nations, organizations, or private companies.
It’s a technology
Most cryptos work on an ecosystem of computer programs running on thousands of devices around the world, known as blockchain technology. Since many of the most prominent blockchains are public, the information in these networks is protected using cryptography, or complex computer-generated code — this is what puts the “crypto” in cryptocurrency.
Bitcoin launched in 2009 as the first crypto in the world. Today, there are thousands — each one offering new possibilities and pathways to wider adoption. Three of the most popular ones are available on PayPal along with Bitcoin, including Ethereum, Litecoin, and Bitcoin Cash.