Just like paper money or a check, cryptocurrencies allow consumers to buy services and goods, or trade them for profit.
Cryptocurrencies have been called everything from the money of the future to an extremely risky asset. Thoughts and strategies about cryptocurrencies spread fast, primarily because cryptocurrencies are a complicated and unique technology that is also accessible.
This may leave people wondering if they should be investing in cryptocurrencies, if they are safe, or how they even work.
Sarah Hammer, managing director of the Stevens Center for Innovation in Finance at the Wharton School, talks to Penn Today about what cryptocurrencies are, how to buy them, and why it is important for people to do their research.