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Bitcoin explained: How do cryptocurrencies work? - BBC NewsCryptocurrency is a digital currency using cryptography to secure transactions. Learn about buying cryptocurrency and cryptocurrency scams to look out for. Bitcoin is a virtual currency that began as a concept described in a paper published on the Internet in by someone assuming the name Satoshi Nakamoto. A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant.