"Crypto" is a shorthand term for "cryptocurrency," which is a digital or virtual currency that uses cryptography for security. Cryptocurrencies operate independently of central banks and are typically decentralized, meaning that they are not controlled by any government or financial institution.
The most well-known cryptocurrency is Bitcoin, which was created in 2009. Since then, thousands of other cryptocurrencies have been created, such as Ethereum, Litecoin, and Ripple, to name a few.
Cryptocurrencies are typically stored in digital wallets and can be used to make purchases or to trade for other currencies or assets. Transactions are verified and recorded on a decentralized ledger called a blockchain, which is maintained by a network of computers around the world.
While cryptocurrencies have gained popularity as an alternative to traditional currencies, they can be volatile and subject to fluctuations in value. As with any investment, it's important to do your research and understand the risks before investing in cryptocurrencies.