What is a cryptocurrency?

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What is a Cryptocurrency?
Cryptocurrency is formed from two words -
crypto (data encryption) and currency (medium
of exchange). Thus, a cryptocurrency is a medium
of exchange (like ordinary money) that exists in
the digital world and uses encryption that
ensures the security of transactions. A
cryptocurrency is an alternative form of payment
to cash and credit cards. In simple terms,
cryptocurrency is a type of digital or virtual
money. It serves as ordinary money, such as
dollars, pounds, euros, yen, etc. But it has no
physical counterparts banknotes or coins that
can be carried around, that is, the
cryptocurrency exists only in electronic form.