What is Cryptocurrency?

A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.[2] It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.[3]

Cryptocurrency is the digital currency built on the blockchain or other network which allows people to exchange and trade for goods. There are over 1000 different kinds of cryptocurrency around the world and each of them is designed differently. Currently, the popular cryptocurrencies are Bitcoin, Ethereum, and Dogecoin.