# What is Cryptocurrency

By [Rajucatti](https://paragraph.com/@enuraja) · 2023-04-06

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A cryptocurrency is **a digital currency, which is an alternative form of payment created using encryption algorithms**. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet.

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*Originally published on [Rajucatti](https://paragraph.com/@enuraja/what-is-cryptocurrency)*