A Cryptocurrency is a virtual or digital money that works as a medium of exchange for making transactions. Secured by cryptography and P2P network, it is immune to intermediary interference and is nearly impossible to counterfeit.

Cryptocurrencies make it easier to directly transfer funds between two parties without the need of any third party such as banks or financial institutions. These transactions are secured by private and public keys with different incentive systems such as Proof of Stake or Proof of Work. Funds are transferred with minimal processing fees, enabling users to save on hefty bank charges.