How can you explain cryptocurrency in a simplest way?

[ram64GB]

A digital currency that doesn't govern by a country or any banks.

[isidrorex]

If I could explain cryptocurrency to other people in my simplest way possible it would be cryptocurrency is a digital asset in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds and it is NOT dependent on banks worldwide. Cryptocurrency can provide an outlet for personal wealth that is beyond restriction and confiscation to other people if studied right and invested in a right way.

[lyks15]

I think I can explain bitcoin in simplest way in saying or comparing bitcoin in other business venture. Because in doing bitcoin  you are like doing business. You are thinking and doing some strategies to make your business alive. And like business you need to invest not only money but also a time and effort to make your business successful. We can also explaine business as a goals or dreams. Because bitcoin will be the great instrument to achieve all your dreams in short period of time. It is easy to understand if the listener are open minded but if not even the greatest teacher will not teach them.

[boyptc]

Cryptocurrency in the simplest way, words and explanation.

It's a digital currency that doesn't have stable value but some does have which you can use as an alternative pay system to your favorite goods online.

[Dudeperfect]

I believe that the best way to explain cryptocurrency to anyone is to demonstrate them the actual transaction and comparing it with the email system because most of us are familiar with how email works but we are not aware of the secret sauce is behind it. Similarly, one should have basic knowledge about using cryptocurrencies and responsibilities while using it and it is not required to explain about Satoshi or the mining procedure. I have observed that keeping it simple, increases the response rate and curiosity about it.

[MintDice]

You could describe Bitcoin as a virtual currency--no physical cash or coins. Funds are exchanged peer-to-peer on a "blockchain" which is basically a giant ledger for recording and storing transactions.

[Woterry]

Easy. To make it simpler and more non jargon to newbies. Cryptocurrency is a currency (meaning has a value) without the actual physical money that can be touch. It’s just numbers that are equivalent to a value of the currency. AND YES, this can eliminate physical money in the long term future. Save some time, save some materials, it can also save trees if that makes sense. And here in our community, we call crypto as the future of money.

[okorocrypto]

In my own understanding, cryptocurrency is a global currency for everyone but not under the control of anyone.