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Rapid expansion of the world's population has been facilitated by technology, which has made knowledge and business readily available to its users at the touch of a button. New technologies like the internet have disrupted the traditional methods of communication and information exchange for ideas, money, or commerce. As a result, the internet is seen as a disruptive technology that has shook the world to its core. Using e-commerce platforms, we can order meals, groceries, and other necessities without leaving our homes or offices. Aside from using our debit or credit cards, we also use alternative wallets like PayTM. Additionally, a huge section of the globe transacts money using virtual currencies, often known as cryptocurrencies. As a safety measure, these tokens and coins have been encrypted for usage on the internet. They're a means of exchange that relies on encryption to verify the legitimacy of new currencies. These virtual currencies are kept in E-Wallets and sent safely and anonymously via the internet on a peer-to-peer basis within seconds. This article performs an analytical study of various cryptocurrencies. It also discusses opportunities and challenges in the vibrant field of cryptocurrencies.