A cryptocurrency is a digital or virtual currency that works as a medium of exchange, using blockchain or distributed ledger technology. While Blockchain has commercial applications outside of cryptocurrency, cryptocurrency cannot exist without blockchain. Encryption techniques, such as cryptography, are used to secure and verify transactions. Cryptocurrency is unique in that it is not issued by a central bank. Cryptocurrency can be used to make low-cost money transfers, make private transactions (in most cases anonymously), or send non-cash remittances. Examples of cryptocurrency include Bitcoin, Dash and Ripple.