Uploaded March 2023 | Updated September 2026, 3 weeks ago

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Get an overview of how blockchain, digital wallets, exchanges, and private keys work.

More Simply Explained videos about:
- Blockchain: youtu.be/SSo_EIwHSd4
- NFTs: youtu.be/FkUn86bH34M
- Smart contracts: youtu.be/ZE2HxTmxfrI

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions.

This is a talk I gave at the CatholicCryptoConference in 2022.

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⏱️ Timestamps
00:00 Introduction
01:43 What is a (crypto)currency?
06:42 How a blockchain works
15:26 How to buy crypto and where is it stored?
17:54 Wallets and private keys
23:50 Is there only 1 blockchain? And why so many cryptocurrencies?
28:31 Downsides of cryptocurrencies
34:00 Outro