It is real in terms of a blip existing in a computer, and the blockchain technology used to create it and monitor it ensures that it cannot be simply deleted (there are instances of it being stolen by hacking though). However, it is not real in the sense that it represents anything of real value as it is not associated in the least with any actual material wealth, and there is no widespread agreement that it has any value in terms of how much goods and services can be obtained with it. Furthermore, even if somebody agrees to accept cryptocurrency in exchange for goods and services, cryptocurrencies are so unstable that a merchant could easily lose the profit on his goods sold before he can exchange the cryptocurrency for fiat currency. There is no cryptocurrency in existence right now that is not valuated in terms of how much fiat currency it can be exchanged for, which implies that it has no value in and of itself.