cryptocurrency

[krip-toh-kur-uhn-see, -kuhr-]

noun

1. currency that exists only in electronic form, operates on a decentralized system of exchange, and uses advanced cryptography for security, or any individual currency of this type.

   Some expect cryptocurrency to become the dominant means of financing trade between markets.

   This particular cryptocurrency has a huge following among retail traders.

adjective

1. being or relating to virtual currency that uses advanced cryptography for security.

   They are one of the largest cryptocurrency exchanges on the internet.

   She got caught running a cryptocurrency scam.

Usage

What's the difference between cryptocurrency, virtual currency, and digital currency? See digital currency ( def. ).

Word History and Origins

Origin of cryptocurrency¹

First recorded in 2005–10; crypto- + currency

Example Sentences

The move could help the big bank owners of the payment product head off cryptocurrency competition.

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Prediction markets are often powered by “smart contracts,” a kind of cryptocurrency technology that holds bets and automatically pays out winnings when an event’s outcome is verified.

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Last quarter, it launched international remittances through the blockchain, moving one step closer to re-entering the world of cryptocurrency after a two-year hiatus.

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Stablecoin, the purportedly “safer” version of cryptocurrency, is having its moment.

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He then described cryptocurrencies and gold as “assets of fear.”

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