A cryptocurrency is a digital or virtual currency that is secured by cryptography and cannot be double-spent on a distributed network. It is often based on blockchain technology, which is a decentralized ledger that stores the history of transactions securely.

At its core, Forex trading involves speculating on the price movements of currency pairs. The forex market is decentralized, meaning that it does not have a physical location or centralized exchange. Instead, transactions occur over-the-counter (OTC) through a global network of banks, brokers, and financial institutions operating 24 hours a day, five days a week. Currency pairs are quoted in terms of base and quote currencies. For example, in the pair EUR/USD, the euro is the base currency, and the U.S. dollar is the quote currency. If the EUR/USD pair is trading at 1.20, it means 1 euro is worth 1.20 U.S. dollars.