Cryptocurrency is used for transactions in the same way as traditional currencies, with the difference being that the currency only exists in digital form. Transactions are made using cryptocurrency wallets, which are accessible online and used to store cryptocurrencies. Each wallet has its own unique address, allowing users to send and receive funds from other wallets. The transaction is then verified and added to a database called a blockchain. This process is instant and secure, as the blockchain is protected by cryptographic algorithms that ensure the integrity of the database.