Cryptocurrency is basically a virtual exchange medium that uses a cryptography in order to secure transactions and control the creation of the system units. Meaning, cryptocurrency simply represents money in the digital marketplace nowhere else. It is based on an open-source software, cryptography and networking. It lets people or users avoid fees or the lowest fees as compared to what your banks are charging. The system takes part in the non-cash transactions that are anonymous while guaranteeing secure transactions.
Cryptocurrency uses complex mathematical calculations converting legible information into an uncrack-able digital code, impossible to track or crack.
In history, cryptography was born during the Second World War in order to enhance and secure international communications. Has more recently evolved and promulgated by the advent of the new freedoms facilitated by cryptocurrency.
For most people, cryptocurrency leaves people with a difficultly to fully comprehend how it works and most of all is it safe. Often people simply do not understand the mechanics of the process. With this, there are cases in which people who purchased cryptocurrencies in the market, but in the end left them in others as the holder, the worst scenario is that the balance will be lost to an insider theft or some hackers. Cryptocurrency is subject to pump and dump and this is normal, this is similar to the penny stocks. Because no one knows what scale will be adopted by the currencies, and there is uncertainty about how the community will maximize them, any cryptocurrencies are volatile relative to the traditional fiat currencies.