A cryptocurrency is a very influential digital currency that utilizes a block chain and it relies on cryptography for its safety.The block chain technology is so effective that it helps individuals to carry out transactions directly with each other. Even two strangers can easily carry out transactions withe each other through cryptocurrency technology without worrying about security. Moreover, cryptocurrencies don’t require a centralized party like a bank to carry out transactions among individual investors .
Cryptography is mostly utilized to make transactions secure and to control the formation of extra units of a currency.Bitcoin is categorized as the first cryptocurrency and it is the largest and most famous of all the available 1,300 cryptocurrencies .