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Cryptocurrency explained

Cryptocurrency explained

Cryptocurrency is big business.

Despite only coming into the public consciousness a decade ago with the invention of bitcoin, it's developed into a multibillion-dollar industry.

A tumultuous year in 2018 saw bitcoin's value skyrocket to nearly $150 billion Cdn before dropping to just a fraction of what it was once worth, and more than a dozen other coins began to catch up, with market caps creeping into the billions.

And recently Canadian cryptocurrency exchange QuadrigaCX went into a tailspin after news its founder had died — leaving customers no way to access roughly $190 million worth of digital currency.

Despite its growth, for many people not involved in tech cryptocurrency is still a big unknown. Here are answers to some questions you might have.

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