A cryptocurrency is more like a digital currency. It is a type of currency that is not tangible.it only exists in computers. The transactions are very simple because it only needs peer to peer transactions. No middle man is needed for the transaction to be complete. All the transactions are normally recorded in a digital public ledger. The ledger, as well as the transaction data, are encrypted with the help of the cryptography. That is why it is called a cryptocurrency. That is to say, it is controlled by the users and the computer algorithms and not the banks. They are distributed all over the world. That is to say, the cryptocurrency blockchain is hosted on many computers across the world. There are very many cryptocurrencies that you can use for these kinds of trade. Examples include BTC, LTC, ETH among others.
How cryptocurrencies work
Cryptocurrencies work almost the same as a bank's debit card and credit cards. In both the bank and crypto transactions, a complex system is used to issues currency after which the transactions are recorded behind the scene. The process allows people to send and also receive money electronically. The main difference between bank credit and cryptocurrencies is that instead of the government and the bank issuing the trading currency, a special algorithm does it.

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