cryptocurrency

American  

[krip-toh-kur-uhn-see, -kuhr-] / ˈkrɪp toʊˌkɜr ən si, -ˌkʌr- /

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.

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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. ).

Etymology

Origin of cryptocurrency

First recorded in 2005–10; crypto- + currency

Explanation

Cryptocurrency is a form of payment that's entirely digital, moving from one computer to another. The most well-known cryptocurrency, Bitcoin, was also the first ever created. Cryptocurrency gets its name from the cryptography or encryption used to protect digital "coins" and all information exchanged when they're traded. At the heart of the word is crypto-, from the Greek kryptos, "hidden or concealed." Cryptocurrency proponents emphasize its security, and the benefit of trading without the interference of banks or governments. Critics warn that investing real money in cryptocurrency is risky; in 2022, people lost a total of about $2 trillion using the digital exchanges.

Example Sentences

Iran is demanding oil tankers passing through the Strait of Hormuz pay a toll in cryptocurrency, highlighting its importance to the Iranian regime and economy.

From The Wall Street Journal • Apr. 11, 2026

The largest cryptocurrency has risen from levels of around $69,000 at the start of the week.

From Barron's • Apr. 10, 2026

The statement said electronic devices, large amounts of cash, company documents, high-end watches and cryptocurrency wallets were seized.

From BBC • Apr. 9, 2026

“Once the money was paid out,” Bonta said, “it was funneled through a complex web of over 130 shell companies and hidden across bank accounts, payment apps and cryptocurrency to evade detection.”

From Los Angeles Times • Apr. 9, 2026

Iran on Wednesday reportedly was requiring vessels to pay transit fees in cryptocurrency, rather than traditional currencies like the dollar, to get their fleets moving through the strait.

From MarketWatch • Apr. 8, 2026