What are Cryptocurrencies?

Cryptocurrency, also referred to as “Crypto”,  is digital currency.

The difference from traditional currency that you are used to using every day is that Cryptocurrency uses something called cryptography which allows transactions to be verified as well as control the supply of that currency.

Cryptocurrencies are decentralised, meaning there is no central control of the currency as there is with traditional FIAT, government controlled currencies. Cryptocurrencies instead use a distributed ledger to track each transaction on a blockchain. By being decentralised the cryptocurrency cannot be controlled by any single entity and using a blockchain means the transaction history is inherently resistant to modification.