A cryptocurrency is basically an online currency where there is no physical form of it. It isn't governed by anyone, no banks, no government no control!
To have ownership of a cryptocurrency you need something called a wallet. If you want to buy some STEEM (A Steemit based cryptocurrency) then you should create a steemit account.
Each time someone makes a transaction from wallet to wallet, a “block” is uploaded to a ledger recording the transaction. Blocks are uploaded one after the other creating a “blockchain”. Anyone who wants to, can a have a copy of the ledger.
Crytpocurrencies are un-hackable. If someone uploads a transaction to the ledger that is not the same as everyone else's copy, than it automatically is deleted. If someone was going to hack a cryptocurrency, they would have to hack everyones computer who holds a copy of the ledger, this would be unfeasible.
All other currencies have a middle man whereas cryptocurrencies are peer-to-peer. When sending money to someone through a crypto, it goes straight to the other person. When using a bank, the money you send can be held onto by the bank for up to 3 days! Your money doesn't need to be held onto by someone else, that’s why people like cryptos better!
https://steemit.com/steemit/@bronsonhill/everything-you-need-to-know-about-steem-currencies
https://steemit.com/steemit/@bronsonhill/top-3-tips-on-how-to-grow-on-steemit
