What is cryptocurrency? Here's what you need to know - CNN

Bitcoin and crypto's 'Elon Musk problem'

Bitcoin and crypto's 'Elon Musk problem'

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Bitcoin and crypto's 'Elon Musk problem'

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WASHINGTON, DC - MARCH 09: Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference. (Photo by Win McNamee/Getty Images)

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US Microsoft founder, Co-Chairman of the Bill & Melinda Gates Foundation, Bill Gates, poses for a picture on October 9, 2019, in Lyon, central eastern France, during the funding conference of Global Fund to Fight AIDS, Tuberculosis and Malaria. - The Global Fund to Fight AIDS, Tuberculosis and Malaria on October 9, 2019, opened a drive to raise $14 billion to fight a global epidemics but face an uphill battle in the face of donor fatigue. The fund has asked for $14 billion, an amount it says would help save 16 million lives, avert "234 million infections" and place the world back on track to meet the UN objective of ending the epidemics of HIV/AIDS, tuberculosis and malaria within 10 years. (Photo by JEFF PACHOUD / AFP) (Photo by JEFF PACHOUD/AFP via Getty Images)

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The statue of former Los Angeles Lakers Magic Johnson is seen in front of Staples Center following an NBA basketball game between the Los Angeles Clippers and the San Antonio Spurs Tuesday, Nov. 16, 2021, in Los Angeles. The Staples Center in downtown Los Angeles will be renamed Crypto.com Arena on Christmas. The home of the NBA's Lakers and Clippers, the NHL's Kings and the WNBA's Sparks will change its name after 22 years. (AP Photo/Mark J. Terrill)

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Cryptocurrency, explained

By Paul R. La Monica and Tal Yellin, CNN

Updated 1820 GMT (0220 HKT) July 26, 2021

(CNN Business)Bitcoin and other cryptocurrencies are hotter than ever.

Fans tout bitcoin as the future of money and a hedge against inflation since it's not tied to government printing presses like the dollar, euro, yen and yuan. But if you're a crypto novice, you might be wondering what all the fuss is about — and how exactly you can invest in bitcoin.