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The first cryptocurrency ever created was bitcoin, which started up in 2009 and is still the best known digital cash. There are now more than 1,000 available online with prices of bitcoin rising to highs of $20,000 earlier this year. Bitcoin prices crashed today in dramatic fashion, shedding over half of its value since the $20k high recorded on January 18. While Ripple values also plummeted and fell to $0.75, as XRP crashed back to pre-December prices. Will Bitcoin recover? Will Ripple recover?

What is cryptocurrency? Cryptocurrency is best seen as digital cash - similar to using Paypal or a debit card except rather than paying in pounds or dollar,s you are using a specific crypto such as bitcoin or Ripple. Cryptos only work in computers and transactions are recorded on a digital public ledger called a blockchain - which is encrypted, hence why it is called a cryptocurrency. The main difference between cryptocurrency and bank credit is that there is no middle-man like a bank. So instead of banks and governments issuing the currency and keeping records, an algorithm does it all for you. RIPPLE PRICE LIVE

GETTY Cryptocurrency: How does Cryptocurrency work?

GETTY Cryptocurrency: bitcoin is the oldest and was created in 2009

How does cryptocurrency work? Cryptocurrency technology allows users to make payments and store money on the internet without needing to use their name or a bank. Transactions can be carried out between peers from “cryptocurrency wallets”. These are then recorded on the blockchain. It works by matching up public codes that relate back to user-held private passwords - known as keys - which are used instead of names. Individual units are created through a process called mining, which involves using a complicated computer program to solve online maths problems or algorithms which generate coins when answered correctly. Users can also buy the currencies from brokers, then store and spend them using cryptographic wallets.

Cryptocurrency price: A year in charts Mon, March 12, 2018 Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year Play slideshow coindesk.com 1 of 10 LiteCoin is going down with the market dip

Cryptocurrencies are known for being secure and providing a level of anonymity. Transactions cannot be faked or reversed and there tend to be low fees, meaning it is a more attractive way of making online purchases. Why are cryptocurrency prices falling today? Experts have pointed to a number of possible causes for the crash, which saw prices some $445billion down from highs less than a month ago. The market is still reeling from revelations that cryptocurrency Tether may have been manipulated after the Bitfinex exchange was subpoenaed by the US Commodity Futures Trading Commission. Bitfinex was hit by the subpoena a month ago although the news did not reach investors until this week, which could have prompted the mass sell-off.