A cryptocurrency is just like a digital form of money. Moreover, at its core, cryptocurrency is typically decentralized digital money designed to be used over the internet. We, at Maiar, like to call eGold: internet money :).
In the last decade Bitcoin and other cryptocurrencies like eGold have grown as digital alternatives to money issued by governments.
Why do they call it cryptocurrency?
The name cryptocurrency is a combination of cryptography and currency. With the help of cryptography, advanced math is used to secure the funds, making sure that nobody else can spend them.
Crypto makes it possible to transfer value online without the need for a middleman like a bank or payment processor, allowing value to be transferred globally, near-instantly, 24/7, for negligible fees. To use cryptocurrency, you don't need to sign up for a website with an email address and password. You can download a wide variety of apps, like Maiar wallet, onto your smartphone to begin sending and receiving within minutes.