In simplest terms, cryptocurrency is a form of 'digital money'. Cryptocurrencies are digital or virtual currencies that are secured by cryptography. Many cryptocurrencies are decentralised networks based on blockchain technology—a distributed ledger enforced by a disparate network of computer, which make them nearly impossible to counterfeit or double-spend.

Cryptocurrencies are systems that allow for secure payments online which are denominated in terms of virtual "tokens" or "coins" which are represented by ledger entries within the system.