Cryptocurrencies, or crypto for short, are digital assets designed to function as an internet-based medium of exchange secured using cryptography. A cryptocurrency is not controlled by any central authority and operates on a peer-to-peer network allowing it to be sent or received anywhere in the world. The decentralized system that facilitates the movement and storage of cryptocurrency is known as a blockchain and it allows information to be stored globally on the peer-to-peer network. One of the defining characteristics of many blockchains is the capability to allow anyone to access their data and view transactions.
For a more in-depth look at cryptocurrencies and what they are, check out our blog post What is cryptocurrency?