Cryptocurrency is a type of virtual currency which leverage cryptography for security of transactions. The fundamentals of cryptocurrency operates independently of a central bank or government. Here, all transactions are recorded on a distributed public ledger system called a blockchain, allowing for a secure and transparent currency transfer from one person to another. The most well-known cryptocurrency is Bitcoin, but many other types exist, such as Ethereum, Ripple, and Litecoin. These currencies can be bought and sold on cryptocurrency exchanges and used to purchase goods and services. However, their value can be highly volatile, and the use of cryptocurrency as legal tender is still largely unregulated in major economies.

Cryptocurrency uses complex mathematical algorithms to secure transactions and control the creation of new units. These algorithms are designed to make it very difficult to counterfeit or double-spend the currency.
To use cryptocurrency, an individual must first acquire a digital wallet. This software program stores the individual's public and private keys. The public key is used to receive the currency, while the private key is used to spend it. Once an individual has a digital wallet, they can acquire cryptocurrency through mining or purchasing it on a cryptocurrency exchange.

Cypto mining is a defined process of solving a complex mathematical problems to validate transactions on the blockchain and earn new currency units as a reward. This process requires powerful computers and much electricity but can be a way for individuals to acquire money without purchasing it in exchange.

Once an individual has acquired cryptocurrency, they can use it to make transactions directly with other individuals or businesses that accept it. These transactions are therefore punched/recorded on the blockchain ledger, which is a public ledger maintained by a decentralized network of computers. The blockchain allows for transparency and security, as it is challenging to change or tamper with past transactions.

It's vary crucial to understand that the value of cryptocurrency can be highly volatile and unpredictable. The value of a single unit can fluctuate significantly over a short period of time. Additionally, there are concerns about the potential use of cryptocurrency for illegal activities, as well as the lack of regulation in the market.