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You don’t need to read long and complex paragraphs to understand what is crypto coin . In simple words, cryptocurrency is a form of digital payment that does not rely on banks for transaction validation. Anyone from anywhere can receive and send payments using peer-to-peer (P2P) technology. Payments made using cryptocurrencies are not physical coins; rather, they only exist as virtual entries in an online database. Cryptocurrencies operate on a distributed public ledger known as the blockchain, which records all transaction data. Transactions are verified using encryption. This means that the storage, transmission, and recording of data to public ledgers all entail sophisticated code.