Cryptocurrency, or crypto, is a digital currency that uses cryptography for security and runs on a decentralized network instead of relying on a central authority like a government or bank. Think of it as digital cash that can be sent globally, peer-to-peer, without intermediaries.
The backbone of crypto is the blockchain — a public digital ledger that records transactions permanently and transparently.

Key Features
Digital-Only – Exists online, stored in digital wallets.
Decentralized – No single authority controls it; the network validates transactions.
Secure – Protected by encryption and private/public keys.
Blockchain-Based – Transactions are grouped into blocks and locked into the chain, preventing tampering.

How It Works
Transaction Created – A user sends crypto to another wallet.
Shared with Network – Computers (nodes) verify if it’s valid.
Consensus – Transactions are approved via Proof of Work (PoW) or Proof of Stake (PoS).
Block Added – Verified transactions are stored permanently on the blockchain.
Wallet Storage – Users access funds with private keys; losing them means losing access.

Why It Matters
Fast & Global – Transfers happen in minutes across borders.
Lower Fees – Often cheaper than traditional banking.
Financial Access – Anyone with internet can participate.
Beyond Money – Supports smart contracts, NFTs, and DeFi applications.
Volatile but Promising – High growth potential but risky.

Learn More
🎥 What is Cryptocurrency, Explained in 5 Minutes (YouTube)