Virtual currency operates in a very interesting way. Essentially, it is just a string of digital code on the network, but the brilliance of this code lies in — the holder's identity is completely independent, and transactions are not dependent on traditional financial institutions.

What does this mean? It can circulate directly on the blockchain, unrestricted by geography and borders. Cross-border transfers and free trading, the entire process is highly private; although transaction records are publicly available on the chain, the associated real identities are difficult to trace. The payment system used by commercial banks is essentially useless for it — this independent financial infrastructure is precisely what makes crypto assets attractive to users worldwide.