Cryptocurrency — also known as crypto — is a digital currency designed to work as a medium of exchange. It uses cryptography (the practice of securing communication under a third party) to secure and verify transactions, as well as to control the creation of new units of a particular cryptocurrency.
Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.
Link: https://cointelegraph.com/bitcoin-for-beginners/what-is-cryptocurrency
Tags