Cryptocurrencies are basically a digital form of currencies with the support of cryptographic security to conduct trusted transactions. The underlying technology which runs cryptocurrencies is blockchain, and it offers a ledger for documenting all transactions.  As of now, cryptocurrencies are Just like standard currencies, as it can be used as payment and exchanged for goods and services. 

That’s a very common question especially among beginners, which point towards the implication of control and ownership of cryptocurrencies. Blockchain does not allocate control to a single entity in the case of cryptocurrencies. However, the creators or developers of cryptocurrencies can set specific parameters such as rules for purchasing or selling cryptocurrency. 

When trading for example Bitcoin as a CFD, you are effectively buying and selling the price movements of that financial product. Which allows you to benefit from the volatility that exists in the market for Bitcoin, but you don’t own Bitcon as a currency. 

One of the common reasons for popularity of cryptocurrencies refers to the assumptions suggesting that cryptocurrencies are the currency of the future. In addition, cryptocurrencies also removing banks and other financial intermediaries from focusing on reducing the value of money.
But the most important of all, the technology behind it, blockchain, is the biggest draw for the future of crypto. Blockchain offers a decentralized system for processing and documenting transactions with better security in comparison to conventional payment systems.