How are cryptocurrency transactions recorded?

• Blockchain records cryptocurrency exchanges. A blockchain, in essence, is a collection of electronic records.
• The blocks that make up a blockchain are where vital information is stored.
• When a block's storage capacity is reached, it forms a 'chain' with another block.
• However, no blockchain exists at a single location.
• Transaction records are not held in a bank or with the government, as they would be with a traditional money exchange, because bitcoin is decentralised.
• A crypto wallet can be used to access one's cryptocurrency.
• A crypto wallet stores and protects one's private keys, which are effectively passwords.

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