What is Cryptocurrency?

Cryptocurrency is a digital currency that uses cryptography to allow secure transactions without a central authority, like a bank.

How it works?
Cryptocurrencies are virtual currencies that exist as "tokens" or "coins" on a decentralized network of computers called a blockchain. The blockchain records and verifies transactions, and uses cryptographic techniques to secure them.
How it’s used ?
Cryptocurrencies can be used as an alternative payment method or as a speculative investment. They can be traded between consenting parties without a broker.
Examples of Cryptocurrencies
Bitcoin was the first cryptocurrency, introduced in 2008 by Satoshi Nakamoto. Ethereum is another cryptocurrency that uses the same underlying technology as Bitcoin, but for more than just peer-to-peer payments.
Other Cryptocurrencies
Cryptocurrencies modeled after Bitcoin are called altcoins. Stablecoins are another type of cryptocurrency that are pegged to an external factor, like the U.S. dollar or gold, to make their value more stable.
Benefits
Cryptocurrencies can be used for seamless global transactions, and they can provide a payment option to people who are unbanked. However, they are not backed by real assets or tangible securities.
Of course this is a very short and simple synopsis of cryptocurrency, but it’s a start for you! Please watch the videos and read the articles in the links for much more in depth coverage.

How it works?