A cryptocurrency (or “crypto”) is a non-physical currency much like the money you spend using your plastic card or online banking. One major difference is that cryptocurrencies exist only in a digital form and not in a material or physical way.

Another major difference is that they are often decentralised and are not printed or issued by central banks or governments. Instead, they are created by a system of network using blockchain technology. Millions of devices around the world are actively participating in the processing and verifying transactions and every time they do so, they are rewarded a tiny piece of the digital currency which becomes an addition to the overall supply.