Cryptocurrencies are virtual currencies or digital assets that use encryption to securely complete payment transactions. Cryptocurrencies (also known as 'altcoins') utilize decentralized control, rather than the traditional centralized control of electronic money or centralized banking systems. Regardless of the phishing attempts by some hackers, security is nearly guaranteed, especially with a trusted platform like Binance, to about 100%. You are the sole controller and manager of your assets, away from the traditional known methods.