What is a cryptocurrency ?

A cryptocurrency is a digital currency that exists just in a network of computers named a blockchain on the Internet. They are decentralized virtual currencies that exist outside of traditional banking, but still  able to be traded as any other currency. Bitcoin is the original and famous cryptocurrency, but there are now more than 1,000 other cryptocurrencies based on the same used technology. Cryptocurrencies are one of the types of digital cash without a central authority, meaning that no single person or institution controls them. This idea is similar to a peer to peer network for file sharing, in the process that people on the network shares files, and they are not stored on just one computer.