Cryptocurrency (or “crypto”) is a type of digital asset that exists online and is secured using blockchain technology. Unlike traditional money issued by governments, cryptocurrencies are decentralized, meaning they are not controlled by a single bank or authority. Popular examples include Bitcoin and Ethereum.
People use cryptocurrency for a variety of reasons:
Investment opportunities: Some investors buy and sell crypto in hopes of benefiting from price movements.
Innovation and technology: Blockchain technology allows for transparent, secure transactions without intermediaries.
Diversification: Crypto can be used as an alternative asset alongside stocks, ETFs, and other investments.
Global access: Crypto can be bought and sold digitally without relying on traditional banking systems.
On the Monorail app, customers can buy and sell supported cryptocurrencies in a similar way to other investment assets. As with any investment, cryptocurrency prices can be volatile and may carry risk. It’s important to understand how crypto works and consider your personal financial goals before trading.
This information is for educational purposes only and is not financial advice.