Cryptocurrency is a type of digital currency or electronic money that is created electronically. The cryptocurrency relies on asymmetric cryptography, i.e. encryption, for the chaining of digital signatures of individual transfers, peer-to-peer networks and its decentralization.

The advantage of cryptocurrencies is their anonymity, decentralization and minimal possibility of regulation by state authorities and multinational corporations. Cryptocurrencies have made modern-day millionaires out of thousands of individuals, and tens of thousands of small investors are making large sums of money investing in cryptocurrencies online. The best thing an individual can do is not to stand aside and invest in cryptocurrencies. After all, whoever invested USD 100 in Bitcoin (BTC) in 2013 sold it for USD 6 million in 2021.

Unlike classic currencies such as dollars or euros, cryptocurrencies are not issued by any state authority, but by specialized software or a company called a cryptocurrency issuer.

Even though it is a respected form of currency, there are no physical coins or notes in cryptocurrencies as we are used to with traditional currencies.
Instead, all cryptocurrencies reside in the digital space, on dedicated servers, e-wallets, and can be sold, transferred, or exchanged for goods and services, or exchanged for other real-world currencies such as USD and EUR.