Cryptocurrency is a digital or virtual currency designed to work as a medium of exchange.
It is produced by a public network of computers, rather than regulatory governments.
Within cryptocurrencies, encryption techniques are used regulate the transfer, generation and regulation of new units – without the need for any intermediaries (ie: government, central bank or middle men).
Any and all transactions are verified by the network and recorded in the public distributed ledger called a blockchain.
Sometimes cryptocurrency can also be referred to as a digital or virtual currency.