Cryptocurrencies are digital money that is becoming increasingly popular these days. They are based on cryptographic algorithms that are difficult, almost impossible to hack. The platform on which transactions take place is called a blockchain, a chain of one-way connected encrypted blocks that contain transaction information. It is based on a decentralized payment system, which implies the absence of a third party, no one regulates it, transactions take place only between two users. If money is lost, no one can get it back. The European Union does not have a legally regulated crypto market. The first, and most popular and most sought after cryptocurrency is Bitcoin. Itis also called digital gold. In addition to it, there are about 1600 other cryptocurrencies. Today, various products and services can be bought with cryptocurrencies.