Cryptocurrency Explained in 26 Seconds | N26

Cryptocurrency Explained in 26 Seconds | N26

PT1M49S | Video has closed captioning.

2024-12-23T09:38:24+0800

You’ve probably heard of cryptocurrencies like Bitcoin and Ethereum. But what are these digital currencies, and why does everybody seem to be rushing to trade them? Are they the cash of the future, or just a passing fad? We may not be able to answer all those questions in 26 seconds, but we can help you enough information to get started. In this video we break down these digital assets, and how people use them to trade, invest, or securely pay for things online. The word “crypto” comes from the encryption techniques used to ensure that these currencies can be transacted securely. These currencies use decentralized blockchain technology to replace the need for a trusted third party, like a bank, to oversee transactions. The big takeaway is that cryptocurrencies are just like any other type of money — except, well, not exactly. Supporters see them as a more secure alternative to traditional currencies. Critics, believe that many cryptocurrencies are speculative and contain no inherent value. Check out our blog and click on the links below to learn more about NFTs, blockchain technology, and all things crypto: https://n26.com/en-eu/blog The statements in this video do not constitute investment advice or any other advice on financial services, financial instruments, financial products, or digital assets. They are intended to provide general information. The statements in this video do not constitute an offer to conclude a contract for the purchase or sale of financial instruments and financial products or an invitation to submit such an offer and to buy or sell any particular digital asset. Cryptocurrencies are subject to high fluctuations in value. A decline in value or a complete loss are possible at any time. The loss of access to data and passwords can also lead to a complete loss. Follow us on social media to stay in the know: Facebook: https://www.facebook.com/N26 Instagram: https://www.instagram.com/n26 LinkedIn: https://www.linkedin.com/company/n26 Twitter: https://twitter.com/n26