virtual currency

American  

[vur-choo-uhl kur-uhn-see, kuhr-] / ˈvɜr tʃu əl ˈkɜr ən si, ˈkʌr- /

noun

1. an unregulated currency available only in electronic form that is issued and controlled by its developers and usually used within a specific online community.

   The game is free to play, but you must make purchases in the app if you want virtual currency to spend.

   As a virtual currency, bitcoin has less stability than a currency issued by a central bank.

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Usage

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

Etymology

Origin of virtual currency

First recorded in 1995–2000

Example Sentences

Blanche had previously signed an ethics agreement promising to dump his cryptocurrency within 90 days of his confirmation and not to participate in any matter that could have a “direct and predictable effect on my financial interests in the virtual currency” until his bitcoin and other crypto-related products were sold.

From Salon

A one-day reaction among traders looking for quick gains is one thing, but BitGo has projected big numbers that might mean more to long-term investors who believe the virtual currency industry will continue to grow and that BitGo’s expenses will come down over time.

From MarketWatch

He also pledged not to participate in any matter that could have a “direct and predictable effect on my financial interests in the virtual currency” until his Bitcoin and other crypto-related products were sold.

From Salon

In a separate U.S. sanctions announcement in September this year, the U.S. said it was used for virtual currency scams and was linked to another Cambodian tycoon who was under American sanctions.

From The Wall Street Journal

They include one serving Shwe Kokko, which the US Treasury calls a "notorious hub for virtual currency investment scams" under the protection of the Karen National Army, a militia affiliated with Myanmar's junta.

From Barron's