Cryptocurrency is a new word for many of the people and we cannot define its existence in a single word, but it has set its roots in the market in very less time.

Cryptocurrency is actually a digital currency, which exists only on computers inscribed by techniques but it doesn't define it all. As we have different currencies like rupees, dollar, euro which are regulated by the government but cryptocurrency is not controlled or intervened by the government or any other agency. The government has no regulation on it, this is the reason why most of the people do not trust cryptocurrency.

This digital asset used as a medium of exchange, it is a decentralized currency used to secure financial transactions and verify the transfer of assets. It is transferred and processed online as it is not in the form of a physical state. Cryptography is secured by cryptography. These currencies are used to purchase and sell goods like other currencies but only through the medium of the internet. Cryptocurrencies are transferred from one person to another online. Users deal with each other directly. There are no notes or coins in cryptocurrencies.

The first cryptocurrency which became famous was Bitcoin and now there are more than 1000 cryptocurrencies used in the market and are present in the market. Bitcoin came in late 2008 by Satoshi Nakamoto. Bitcoin is the first cryptocurrency became the base model for other cryptocurrencies. Many currencies were designed in such a way. First bitcoin transaction was made on 12th Jan'09. After this so many platforms been made to buy and sell bitcoin online instantly. Bitcoin gradually became popular among users.

With the emerging success of Bitcoin, many other competing currencies known as 'altcoin' started taking place in the markets like Ethereum, EOS, Litecoin, Namecoin, whitebitcoin and many other altcoins came into existence.

Cryptocurrency assists in transferring funds easily between two parties, without the requirement of any third party like banks or any financial agency. I believe if it will be governed and monitored by the government then cryptocurrency will definitely hold more value and trust as compared to running currencies.