CryptoCurrency

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Crypto means cryptography which is the digital method of protecting information and communications through the use of codes so that only those for whom the information is intended can read and process it.

Currency is a system of money in common use in today’s world.

Cryptocurrency is the mix of these two words which simply means a secure alternative of currency. By the word crypto, it means that this type of currency is safe, secure and free of fraud. Also as cryptography is a digital method so, the currency based on top of it is also in the digital world. By the word currency in cryptocurrency means that cryptocurrency can be used as a common currency for buying and selling purposes and can be exchanged as normal money.

Bitcoin is a cryptocurrency which is a digital form of currency

The main aim of cryptocurrency is the same underlying principle that if we can share information, such as you can send a copy of a game to your friend on the internet, then it would be great if we can send and receive money or currency over the internet.

In simple words, cryptocurrency is a digital currency alternative to our common use hard-copy (paper-notes & coins etc)currency.