Before Bitcoin, Ethereum, Litecoin and other cryptocurrencies, there were already some digital currencies dating back to the 1990s. This included Digicash and Bitgold, but these were centralized and didn't last long. Cryptocurrency has come with a new trend, so its decentralized nature works on its own without interruption from an external entity. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Necessity, they say, is the mother of invention, so many times people have wanted to create some kind of online digital cash system, but to no avail due to problems with centralization. With this in mind the first cryptocurrency was created by a group or person called Satoshi Nakamoto, (identity still unknown). The main reason why he created this cryptocurrency was to create a decentralized peer to peer electronic cash system. The amazing thing about cryptocurrency is that, even though it was not intended to be invented, the rise of bitcoin on the online market gave rise to the birth of other cryptocurrencies. We can now count more than hundreds of these currencies that are leading the way for bitcoin. In 2008 bitcoin was born and launched in 2009 where mining of the currency began. Bitcoin started at less than a dollar in December 2011, one bitcoin was selling for $11,500. The price of bitcoin has continued to increase from the year it was launched until today, making it the most valuable cryptocurrency now. Even though the currency has undergone many fluctuations, it has continued to surprise the market by dramatically increasing its price. As mentioned above, other cryptocurrencies have been developed with the aim of offering more flexible terms than bitcoin. In 2011 Litecoin was created by Charlie Lee. Litecoin did so well on the market after a few years, so much so that some people thought it competed with Bitcoin. Litecoin, trying to attract more masses, has become more dynamic and flexible in terms of mining. This was followed by Ethereum, created in 2015. Etheruem provided a platform for initial coin offerings (ICO). Other currencies include ripple, digibyte, dash, zcash, monero, Eos to name a few. The interesting fact about all these currencies is the fact that they are not controlled by any central government. The security it offers owners and the protection of their identity. Cryptocurrency, it seems, is now here to stay. People support it by investing in it and earning a lot of money in return.