Financial Terms / C - D / Cryptocurrencies

Cryptocurrencies

A cryptocurrency (aka crypto) is a  currency that uses cryptography to digitally secure transactions. It is a combination of  crypto, which comes from the Greek word ‘Kryptos,’ meaning ‘secret or hidden, and  currency, which has referred to forms of money since the 1700s.

Cryptocurrencies do not need intermediaries like financial institutions to facilitate the transfer of money and are completely anonymous, and do not require trust between parties to complete the transaction.