Fiat currency is currency governed by central banks and governments, like the US dollar, Euro, or Yen.
Cryptocurrency is another form of money, kind of like fiat currency, except governed by open source software and decentralized consensus instead of central banks and governments.
Each cryptocurrency has its own set of rules, like when and how new currency is issued.
Generally, cryptocurrencies offer these properties:
Blockchain is the technical innovation that makes cryptocurrency possible.
A blockchain is simply data recorded on many computers all over the world. People are paid to protect data on the blockchain with the blockchain’s inbuilt cryptocurrency.
All money is a concept of agreement where its value depends on others to accept it as valuable.
To determine the price of cryptocurrency, people all over the world meet to buy or sell crypto on exchanges or other marketplaces.
The price is the point where offers to buy meet offers to sell on these exchanges.
A crypto wallet lets you send and receive cryptocurrency.
It can be an app on your smartphone or desktop computer or a dedicated hardware wallet.