What cryptocurrency is

Generally, cryptocurrency is a decentralized digital currency which can be used for purchases and/or can also be exchanged for other digital or traditional (fiat) currencies. As opposed to the case with fiat currency, there isn’t a central authority for issuing new cryptocurrencies, nor controlling them. Instead, cryptocurrencies are normally generated by solving complicated mathematical problems. Cryptocurrency isn’t like regular fiat money as its value is highly volatile and can’t be controlled. Read this for a very in-depth explanation of what is cryptocurrency.