Unlike paper money, Bitcoin and other cryptocurrencies are produced mathematically and held digitally. The people who voluntarily offer their computing power to secure these cryptocurrency networks are called miners.
Cryptocurrencies don’t have a central government or other so-called ‘middlemen’ that decide about the future of the system.
Cryptocurrency is digital money. That means there’s no physical coin or bill — it’s all online. You can transfer cryptocurrency to someone online without a go-between, like a bank. Bitcoin and Ether are well-known cryptocurrencies, but new cryptocurrencies continue to be created.