Cryptocurrencies are decentralized digital assets, as they are not controlled or backed by any central bank, and their exchanges do not require intermediaries. The control of cryptocurrency transactions depends on a decentralized database, usually a blockchain.

Cryptocurrencies are used as an alternative means of payment to legal tender and more frequently as an investment. However, unlike other financial assets, cryptocurrencies are not subject to any specific regulation, do not have the backing of a public authority, nor are they covered by any consumer protection mechanism.