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What is crypto? A guide for beginners
If you’ve been reading all our advice about the best cryptoccurency casinos but you’re still somewhat at sea, worry not. Playing at sites that support cryptocurrency gambling in 2025 is actually very simple and user-friendly – all you need to do is get past the initial block of the jargon and the purchasing process.
How does cryptocurrency work?
The good news is that cryptocurrency basics are very similar to traditional payment methods. The main difference is that the government doesn’t get to dictate the value of your crypto investment — the market does.
All cryptocurrencies operate on a Decentralized Finance Platform.
DeFi works by using peer-to-peer networks (P2P) and very advanced security protocols to allow two parties to exchange crypto without the need to pay interest, administrative fees, or divulge information to anyone else, thus bringing full independence and anonymity to all crypto trading.
Blockchain in cryptocurrency explained
In the quest towards understanding cryptocurrency, beginners sometimes confuse the term ‘blockchain’ with DeFi. The two terms don’t mean the same thing. However, they’re very closely related and are both part of cryptocurrency basics.
Simply put, the blockchain is a decentralized system where all transactions are recorded using blocks. Every single action that takes place is recorded on a block and verified through an automated process. The block is then closed. The next block will hold all the information of the new transaction as well as that of the previous block, thus creating a chained link of information - hence, the coining of the word ‘blockchain’. This ensures the funds' safety, as changing previous transactions is virtually impossible, since each transaction exists in relation to another.
