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

Examples of cryptocurrency in a Sentence

Recent Examples on the Web

Pippen has been vocal about his desire tie sports and cryptocurrency together, and talks regularly about Bitcoin. —Callum Booth, Forbes, 3 Dec. 2024

Still, the idea of getting paid in cryptocurrency brought back some difficult memories for women’s sports fans. —Mike Vorkunov, The Athletic, 3 Dec. 2024

There has been division among Democrats on how to handle the cryptocurrency industry with some seeing it as innovative and others viewing it as a source of scams. —Thomas G. Moukawsher, Newsweek, 30 Nov. 2024

Bloomberg | Bloomberg | Getty Images The price of bitcoin is tracking for one of its best months of the year after former President Donald Trump’s election victory catapulted the flagship cryptocurrency to new records consistently throughout the month. —Tanaya MacHeel, CNBC, 29 Nov. 2024

Word History

Etymology

crypto- + currency

First Known Use

2009, in the meaning defined above

Kids Definition

cryptocurrency

noun

cryp·​to·​cur·​ren·​cy

ˌkrip-tō-ˈkər-ən(t)-sē,

-ˈkə-rən(t)-sē

: any form of currency that only exists digitally, that usually uses a decentralized system for issuing new units and reording transactions, and that relies on cryptography to prevent fraudulent transactions