The worst part is that there is already another word for cryptocurrency. Blockchain. It has the same number of syllables as "crypto" and isn't ambiguous.
The cynic in me says they did it on purpose, because it's widely agreed by non-morons that cryptography is good and important and people wanted to associate their controversial shitcoins with that good and important thing.
> The worst part is that there is already another word for cryptocurrency. Blockchain.
There do exist cryptocurrencies that are not based on a blockchain. For example, Iota is based on a tangle, which the creators of Iota claim is better suited for their intended IoT applications than a blockchain.
Or more centralized cryptocurrencies, for example eCash, which was invented 1983 by David Chaum:
"Centralized cryptocurrency" already has its own word. Banking.
Banking would be better if it worked like eCash, but it would still not be a problem to not have a single word that encompasses both this and Bitcoin, since they are actually two different things.
The cynic in me says they did it on purpose, because it's widely agreed by non-morons that cryptography is good and important and people wanted to associate their controversial shitcoins with that good and important thing.