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

Skeptics, including financial analysts and environmental advocates, point to the cryptocurrency’s extreme price volatility as a major risk. —Tonya Evans, Forbes, 21 Nov. 2024

The recent rally, which has seen Bitcoin add 37% to its value in just one month, could be longer lived as the cryptocurrency becomes less volatile. —Rocio Fabbro, Quartz, 20 Nov. 2024

The size and scope of DOGE − an acronym that also refers to a form of cryptocurrency − remains unclear. —Haley Bemiller, The Enquirer, 13 Nov. 2024

While a small handful of cities allow cryptocurrency for city service payments, Detroit would be the largest city in the country so far to take the crypto plunge. —Jc Reindl, Detroit Free Press, 7 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