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

Trump has outlined several broad themes that could affect the business of tech, including wider leeway for the cryptocurrency industry and skepticism of the Justice Department’s antitrust case seeking a possible breakup of Google. —David Ingram, NBC News, 6 Nov. 2024

Stocks tied to the price of the cryptocurrency got a boost. —Tanaya MacHeel, CNBC, 5 Nov. 2024

Nowlin used the Ether cryptocurrency to buy US dollars and then transferred those funds into his bank account. —Karen K. Ho, ARTnews.com, 5 Nov. 2024

In the scam, a third party gains a victims’ trust and, over time, convinces them to invest all of their money into cryptocurrency, which immediately disappears. —Martha Mendoza, Fortune, 5 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