From Bitcoin to Binance: Crypto terms and what they mean

While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin. But what actually is it?

Bitcoin is a cryptocurrency, which is to say a type of digital currency. Unlike traditional currencies, Bitcoin is not controlled by centralised financial institutions.

This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile with it rising and falling in value at the whim of Bitcoin buyers and sellers.

Donald Trump has pledged to make the US the "crypto capital of the world" - backtracking on his previous claim that Bitcoin was a "scam".