Double spending is the risk that a virtual currency or cryptocurrency can be spent twice.

When using physical money, you hand over the metal coin or paper money as proof of payment when you buy something. Since the money is given physically, you are not able to use that same banknote for another purchase afterward.

The same can’t always be said for cryptocurrencies which, due to their digital nature, can be very easy to reproduce — leading to a problem where the same digital coins are spent more than once.

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