Cryptocurrency (or “crypto”) is a digital currency used as an alternative payment method or as an investment. Cryptocurrencies get their name from the cryptographic techniques that enable people to buy, sell or trade them securely without the need for a central authority, such as a government or financial institutions.
For example, Bitcoin was developed primarily to be a form of payment that isn’t controlled or distributed by a central government; Ethereum lets developers build automated applications in what has become known as Decentralized Finance; and Tether is a stablecoin whose value is pegged to the U.S. dollar.