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Decoding the cryptic crypto storyCryptocurrencies are digital currencies. In the simplest terms, they are similar to traditional (fiat) currencies like pounds, euros or dollars but they exist. Cryptic cryptocurrency. We've come a long way from trading sea shells. Currencies have existed since civilization itself with new methods of payment. Cryptic Crypto. Written by: Marissa A. Scicchitano, CPA,. Since the invention and release of bitcoin in , distributed ledger technology, and the use of it.