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Think of cryptocurrency as the first taste of virtual money, available to anyone, anywhere, anytime.

Why it matters: Crypto is no fad. It will change how, where and what people buy and sell. But, right now, its mostly like trading in risky stocks over the internet, trying to pick the long-shot, long-term winners.

What's happening: Cryptocurrency is the single biggest financial discovery and transformation in generations. Some of the worlds smartest young minds arent going to law school or Goldman Sachs theyre going into crypto.

What crypto isn't: Blockchain.

What crypto is: Brady Dale, author of Axios' upcoming crypto newsletter, calls it "money that is native to the web."

Its value is driven mainly by demand, and hype the more popular it becomes, the more its worth.

Don't be careless: Crypto news site CoinDesk has a guide on how to spot the scams, including how to reach out to their in-house experts for help. If you plan to invest, at least go in eyes wide open.

Why pay close attention? Look at crypto as your front door and front row for an unfolding virtual world where digital possessions will be similar to physical ones, virtual experiences similar to actual ones.

Editor's note: This article appeared first in Axios Finish Line, a new newsletter in the Axios Daily Essentials package. And you can also sign up for the upcoming Axios Crypto newsletter, launching soon.

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How to understand cryptocurrency and why it's popular - Axios