Currency can be defined as any form of money which is currently in circulation that acts as a medium of exchange. This system of exchange was traditionally done by notes and coins accepted commonly among the people within a nation.

Now, a new mode of currency is gradually emerging in the market, more prominently cryptocurrency. These are digital virtual currencies safeguarded with the application of cryptography, something that was not achievable with fiat currency. Cryptocurrencies are stored in digital wallets, whose address is only known to their owner. Wallets can be accessed through owners' keys and are based on blockchain technology.