What is a cryptocurrency system?

According to Jan Lansky, a cryptocurrency is a system that meets six conditions: The system does not require a central authority; its state is maintained through distributed consensus. The system keeps an overview of cryptocurrency units and their ownership. The system defines whether new cryptocurrency units can be created.

Is cryptocurrency a decentralized currency?

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. What is cryptocurrency?

What are the main features of cryptocurrency?

The most important feature of cryptocurrency is that it is a decentralized currency. Decentralized means it is not issued by the central authorities, the user owns it, and neither government nor the bank controls it. It is also known as the money of the future.

Can a cryptocurrency be used in the real world?

A cryptocurrency is not a type of currency that can be used in the real world. It can be used to perform transactions only in the digital world. So in order to buy/sell using a cryptocurrency, it has to be converted from a digital form to some existing currency that is used in the real world.