What is a Cryptocurrency?

The Short Explanation:

A cryptocurrency, or crypto, is a digital currency (e.g. does not exist in paper form like normal currencies do) that is secured by cryptography. Many cryptocurrencies like Bitcoin are based on blockchain technology. This means the transactions are stored on a decentralised ledger.

Cryptocurrencies are not generally issued by any central authority like central banks, meaning they are theoretically immune to interference by governments, or other manipulation.