What is a cryptocurrency?

Cryptocurrency, popularly referred to as crypto, is a new type of digital currency. In a nutshell, it’s a form of decentralized digital asset designed to be used over the internet. Cryptocurrencies like Bitcoin and Ethereum have arisen as digital alternatives to money issued by governments. Because they are decentralized, any two people, anywhere in the world, can send cryptocurrency to each other without the involvement of a bank, government, or other institution. Most cryptocurrencies, including Bitcoin and Ethereum, are powered by a recordkeeping and security technology called blockchain.

 

 

 

 

*Cryptocurrency transaction and custody services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC. When you enable MoneyLion Crypto, you must also agree to the Zero Hash LLC and Zero Hash Liquidity LLC terms and conditions and enable your Zero Hash account. Cryptocurrency balances are not covered by FDIC or SIPC insurance.

MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, MetaBank®, National Association, Member FDIC. RoarMoney is a service mark of MoneyLion. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.

The cryptocurrency assets in your Zero Hash account are not held at MoneyLion or MetaBank. MetaBank and MoneyLion are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither MoneyLion, nor MetaBank, is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies.

 

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