Actually it's totally different,
even though its name was Cryptocurrency,we can not compare it to actual money aka Fiat.
if we want it to be considered as a 'real currency' we should have a physical form.
right now the best word to describe it is 'Electronic Payment' not 'Electronic Money'.
'Electronic payment' was a tool for people to help them send their money across the world,
it's just a tool and will never replace the real 'money' itself.
Electronic money or cryptocurrency is somehow associated with physical money or fiat. they both use in paying of bills purchases and investments. But since electronic money has no physical form, we still need to convert it to actual money or fiat if needed. But as we move forward, maybe there would come a time that electronic money will be as good as the traditional currency in the world.