Cryptocurrency is needed because it offers a financial system that is flexible and secure. Through cryptography, private information is kept secure and transactions are verifiable, so individuals can easily trust and engage in financial activities online. Cryptocurrency also provides a faster, less expensive, and more efficient way to send and receive money, allowing financial transactions to take place globally in a matter of minutes. Finally, cryptocurrency is an alternative for people who want to get involved with finance without the high costs and paperwork associated with traditional banking systems. With these advantages, cryptocurrency holds the promise of providing a secure and innovative financial system for all.