cryptocurrency

noun cryp·to·cur·ren·cy \ ˌkrip-tō-ˈkər-ən(t)-sē , -ˈkə-rən(t)-sē \
Updated on: 15 Nov 2017

Definition of cryptocurrency

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.

First Known Use of cryptocurrency

1990


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allowing a liquid or gas to pass through

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