Cryptocurrency
A digital currency secured by cryptography and typically issued and traded on decentralized networks.
Balances are generally uninsured and pay no interest, and the value can move sharply in either direction, so the amount available on a deadline is a hope rather than a rate.
Often confused with
- Savings Account
- A savings account promises a stated rate and carries federal insurance; a cryptocurrency balance promises neither.
Taught in
See also
3.1.C.7