Page 7 - Cryptocurrency - Focus on Current Events
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CHAPTER 4
HOW DIGITAL
MONEY WORKS
ost cryptocurrency transactions take place
Mon exchanges. These online platforms allow
people to buy and sell digital money. However,
before a person can buy or sell, she needs a
digital wallet. A digital wallet is a software
program. It tracks and stores the cryptocurrency
that the person owns. Every digital wallet has its
own address. This address is a string of random
letters and numbers. It is similar to an email
Digital wallets can be created on cryptocurrency
exchanges. Bitcoin ATMs can also create them on
users’ smartphones.
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