### What is the Crypto Space?
The crypto space is a term used to describe the rapidly growing and evolving world of digital currencies, platforms, networks, technologies and services that make up the cryptocurrency sector. Cryptocurrency refers to any form of virtual currency or asset which uses cryptography for security purposes in order to verify transactions and control its creation. The crypto space consists of different components including blockchain technology, distributed ledgers (DLT), smart contracts, decentralized applications (dApps) as well as various types of tokens such as utility tokens or security tokens. In addition to these elements there are also numerous exchanges allowing users buy/sell cryptocurrencies with major fiat currencies like US Dollar (USD) or Euro (EUR).
Crypto can be used for making payments online either through peer-to-peer transfers between individuals without requiring an intermediary such traditional banks or payment processors. It can also serve other functions such providing access certain services offered on specific platforms by using their native token – typically known as “utility” tokens – instead relying on traditional forms payment like credit cards debit cards etc.. As more people become aware new opportunities presented by this burgeoning market it has grown exponentially over past few years giving rise what we know today “crypto space”.
