Cryptocurrencies are digital currencies that use cryptography to secure transactions, control who can spend what, and verify transfers. They're also called crypto-currencies because they use cryptographic techniques to create them. There are many different kinds of cryptocurrencies, including bitcoin, litecoin, ethereum, ripple, dogecoin, dash, monero, zcash, and others. Some people call them altcoins because they aren't bitcoins.
Cryptocurrency was invented in 2008, but did not become widely used until 2017. In fact the value of cryptocurrency rose exponentially in 2017, reaching almost $20 billion in market cap. But the price of cryptocurrencies fell dramatically in 2018, causing the overall market cap to fall to $132 billion.
The following video explains what cryptocurrencies are and why they're useful
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