cryptocurrencies are what we can call a digital money. A digital money is an advanced or virtual cash which uses cryptography for its own security. A digital currency is hard to fake in view of this security included. A characterizing highlight of the cryptocurrencies, and seemingly its most charming appeal, is its organic nature; it isn’t issued by any focal expert, rendering it hypothetically safe to government impedance or control.
The coin of a cryptocurrency is called a cryptocoin.
cryptocurrencies are virtual and do not have a central repository, a digital cryptocurrency balance can be wiped out by a computer crash if a backup copy of the holdings does not exist. Since prices are based on supply and demand, the rate at which a cryptocurrency can be exchanged for another currency can fluctuate widely.