CoinDCX Guide / What is a cryptocurrency?

What is a cryptocurrency?

Cryptocurrencies are digital or virtual currencies that are able to operate as a medium of exchange at a person-to-person level, enabling direct payments between individuals. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. They operate on decentralized platforms which means it is not controlled by any central authority: the decentralized nature of the blockchain makes cryptocurrencies theoretically immune to the old ways of government control and interference.