# WHAT IS A CRYPTO CURRENCY

By [Phantom](https://paragraph.com/@phantom-2) · 2024-01-13

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What are Cryptocurrencies? Cryptocurrencies are digital tokens. They are **a type of digital currency that allows people to make payments directly to each other through an online system**. Cryptocurrencies have no legislated or intrinsic value; they are simply worth what people are willing to pay for them in the market.

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*Originally published on [Phantom](https://paragraph.com/@phantom-2/what-is-a-crypto-currency)*