cryptocurrency

noun

cryp·​to·​cur·​ren·​cy ˌkrip-tō-ˈkər-ən(t)-sē 

-ˈkə-rən(t)-sē

plural cryptocurrencies

: 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

Example Sentences

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

Word History

Etymology

crypto- + currency

First Known Use

2009, in the meaning defined above