How do you explain cryptocurrency?

These are the largest digital currencies by market cap as of mid-July 2018.

Cryptocurrency is the name given to a system that uses cryptography to allow the secure transfer and exchange of digital tokens in a distributed and decentralized manner . These tokens can be traded at market rates for fiat currencies. Read more.

Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions . Cryptocurrencies don’t have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.