$BTC A definition of cryptocurrency is a digital currency built with cryptographic protocols that make transactions secure and difficult to counterfeit. The most important characteristic of a cryptocurrency is that it is not controlled by any central authority: the decentralized nature of the blockchain makes cryptocurrency theoretically immune to old forms of government control and interference. Cryptocurrencies facilitate the execution of any transaction, as transfers are simplified through the use of public and private keys for security and privacy purposes. These transfers can be made with minimal processing fees, allowing users to avoid the high fees charged by traditional financial institutions. However, the latest news about cryptocurrencies indicates that, as they are devoid of a 'central bank', a cryptocurrency balance can be wiped out by a computer failure, a hack, and other unexpected events.