By: Teddy Grant

No matter where you turn lately, you may not be able to get away from hearing about cryptocurrencies.

Cryptocurrency is a digital currency that’s gained significant traction in recent years. The most popular or well-known is Bitcoin, which has seen astronomic growth since it launched in 2009.

In 2011, one bitcoin was $1; as of April 16, a single Bitcoin is worth $61,611.

Dogecoin, a joke digital currency based on the “Doge” meme, skyrocketed by 400% this week, increasing its value to $40 billion.

“Bitcoin is money. It is a digital currency that can be sent to anybody in the world,” author and Bitcoin wiz Isaiah Jackson told BNC on Friday.

Cryptocurrency solely exists online, as there are no physical coins or bills to be handled. It is stored in a digital wallet online, on your computer, or other available hardware, according to the Federal Trade Commission.

What makes Bitcoin, in particular, unique is that it’s the first time that Black people have a way to own their wealth, Jackson said.

“The system we’re in now, eminent domain can take your house; we see that with gentrification. If you have gold, you’re working with a third party, you have to get it from them, any other assets you speak it’s in somebody else’s possession, but you can own your wealth,” he said. “For Black people, that’s paramount. There is no value you can put on that.

RELATED: Coinbase makes seismic stock exchange debut, valued at $86B

Cryptocurrency users can use it for payments, to avoid transaction fees and for investments.

Companies such as Tesla, PayPal and Visa have recently allowed customers to use digital currency for transactions.

The Bitcoin & Black America author said that cryptocurrency allows Black people to operate without barriers they have historically seen regarding money and wealth.

“You can operate smart contracts to get loans without any bank looking you in the face and saying ‘we’re not going to give it to you because you live in a certain zip code,’” Jackson said, referencing the racist housing policy that’s redlining.

Jackson’s advice for anyone wanting to get into cryptocurrency is to “get some skin in the game.”

“You can buy $1 worth of Bitcoin on CashApp is,” he said. “You can earn Bitcoin. You don’t have to buy it. I think people look at it as an investment too much. You can actually accept it for your business. You can get Bitcoin rewards for buying things you already buy.”