What is cryptocurrency?
Cryptocurrency is a form of digital currency secured by cryptography. Cryptography is a way of keeping digital currency secure. It means that only the person with the right information can access that currency. This information is known as a private key.
Instead of trusting a bank to store currency, users of cryptocurrency can send sums directly to each other, peer to peer. Transactions are recorded on a shared ledger known as a Blockchain.
Although Bitcoin was the first cryptocurrency to come into existence, there are now thousands of different cryptocurrencies.