# The Basics about Cryptocurrency

By [sujit11.eth](https://paragraph.com/@sujit11) · 2022-11-06

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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 [sujit11.eth](https://paragraph.com/@sujit11/the-basics-about-cryptocurrency)*