The article considers the essence of a new financial instrument-the crypto currency, which is a kind of electronic money, its essence, specific features, the classification of types, advantages and disadvantages of traditional currencies, as well as prospects for further development of crypto currencies from the point of view of their impact on financial markets. Key words: financial markets, financial instruments, electronic money, Bitcoin, crypto currency, advantages and disadvantages of the crypto currency, impact of crypto currencies on the stability of financial markets.