cryptocurrency

noun
cryp·​to·​cur·​ren·​cy | \ ˌkrip-tō-ˈkər-ən(t)-sē How to pronounce cryptocurrency (audio) , -ˈkə-rən(t)-sē \
plural cryptocurrencies

Definition of cryptocurrency

: any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions Virtual currency bitcoin hit the mainstream in 2014. Bitcoin ATMs started springing up all over the world … , allowing people to exchange cash for the cryptocurrency, a secure digital payment outside of conventional financial institutions.— Brenda Poppy

Examples of cryptocurrency in a Sentence

Recent Examples on the Web While the country was once home to the world’s most active cryptocurrency exchanges, authorities banned the venues last year and have since moved to block access to platforms that offer exchange-like services. Fortune, 28 Feb. 2018 Bitcoin, however, has become the cryptocurrency standard operating much like U.S. dollar would operate in public currency markets, but in the crypto realm. Michael C. Dealoia, cleveland.com, 25 Feb. 2018 Some companies, such as KODAK, have promoted cryptocurrency investments in hopes of reviving their flagging businesses. Mike Rogoway, OregonLive.com, 16 Feb. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'cryptocurrency.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of cryptocurrency

2009, in the meaning defined above

History and Etymology for cryptocurrency

crypto- + currency

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Learn More About cryptocurrency

Time Traveler for cryptocurrency

Time Traveler

The first known use of cryptocurrency was in 2009

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Statistics for cryptocurrency

Cite this Entry

“Cryptocurrency.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/cryptocurrency. Accessed 20 Jun. 2021.

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